The following table provides data on the number of visitors to an open-access public beach, the...

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The following table provides data on the number of visitors to an open-access public beach, the individual marginal willingness to pay of the visitors to the beach and the costs per visit to the beach. No. of visitors Individual MWTP Cost/visit 1 $20 $15 234567899 $20 $15 $20 $15 $20 $15 $18 $15 $16 $15 $14 $15 $12 $15 $10 $15 $8 $15 a. 10 Determine the number of visitors that would maximize the net benefit of the beach. b. Under open access, how many people will visit the beach? C. Use the answers to part (a.) and (b.) to explain the dissipation of rents in this case. The following table provides data on the number of visitors to an open-access public beach, the individual marginal willingness to pay of the visitors to the beach and the costs per visit to the beach. No. of visitors Individual MWTP Cost/visit 1 $20 $15 234567899 $20 $15 $20 $15 $20 $15 $18 $15 $16 $15 $14 $15 $12 $15 $10 $15 $8 $15 a. 10 Determine the number of visitors that would maximize the net benefit of the beach. b. Under open access, how many people will visit the beach? C. Use the answers to part (a.) and (b.) to explain the dissipation of rents in this case.

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