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IV. You have been asked to estimate the total value of a recreational site located in town A and have been given the data in
IV. You have been asked to estimate the total value of a recreational site located in town A and have been given the data in the table. You also know that there is no admission fee charged at the site, travel cost per mile is $1.00, and people in town D say they would visit the site if it were a little closer. Derive the estimated demand curve for the site, graph it, and calculate your best estimate of the total value of the site. Show your calculations. 1 2 3 4 Rou nd- trip Annual Population distance visits to in Town to site site thousands A 0 5,000 10 B 20 8,000 20 C 40 3,000 30 D 50 0 20
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