Let's assume you live 100 miles from the beach and it takes you two hours to drive there from home. Your cost per mile of driving is $0.25 per mile and your opportunity cost of time is $10 per hour. There is no entrance fee to access the beach.

The government invests in a beach nourishment project which doubles the width of the beach.Before the beach nourishment policy, your demand for trips was:

D: Q = 100 - P

After the beach nourishment policy, your demand for trips is:

D: Q = 120 - P

Using the travel cost method, what would you be willing to pay for the beach nourishment policy?