Help please

1. In Unit 3, we learned various methods of valuing environment. Suppose that you are appointed by a government to investigate the value of a park. You decide to use the Zonal Travel Cost Method. Through the data collection, you obtain the information listed in the table below: (25 marks; Please hand-write your answer) When entry fee is $0 When entry fee is $10 Zone Travel Population Cost Visitors/ Visitors/ Population Total Visits Population Total Visits 1 $10 1000 0.58 0.37 2 $20 3000 0.32 0.20 3 $30 4000 0.25 0.13 Sum a) Based on the above information, please complete the above table by filling the two columns named "Total Visits". (8 marks) b) Assume that the demand curve of visiting the park is linear. It means that you can draw the demand curve based on two points. Given the results in part a), please draw the demand curve of visiting the park. Note that the x-axis represents the number of visits. The y-axis represents the entry fee ($ per visit). (11 marks) c) According to the answer in part a) and the demand curve in part b), you are able to derive the demand function. Suppose that you have derived the demand function, and you find that the number of visits is 0, when the entry fee is $24.19 (i.e. y-intercept). Please indicate the total willingness to pay of visiting the park in the figure and calculate its value. (6 marks) Page 1 of 3