Question
The town of Boone has asked you to estimate the total consumer surplus of swimming trips to their outdoor pool. They charge $5 for entry
The town of Boone has asked you to estimate the total consumer surplus of swimming trips to their outdoor pool. They charge $5 for entry and get an annual attendance of 100,000 visitors. This is the only data point we know. However, Blowing Rock also have an outdoor pool. They charge $7.50 for entry and get an annual attendance of 75,000 visitors. Assuming that we can also use the Blowing Rock data as an analogous private-sector good, map out the demand curve for swimming trips to the Boone pool below. What is the annual consumer surplus for swimming trips to the Boone pool?
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