A Collaborative Federal and State Program Has Been Proposed in Response

question 28

Multiple Choice

A collaborative federal and state program has been proposed in response to acid rain damage in Newport Bay, Maryland. To estimate the incremental benefits of the program, you use the travel cost method based upon the following pre- and post-policy recreational demand functions:
Pre-policy: P = 62 - 0.02V₁ Post-policy: P = 80 - 0.02V₂,
where V is the number of visitors (in thousands) and P is the admission fee. Assume the admission fee is set at $20 per visitor. Use this information for any or all of Questions.
-Before the policy was put into effect, estimated consumer surplus (in thousands of dollars) was valued at

• A) 2,100
• B) 44,100
• C) 90,000
• D) 45,900

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Definitions:

Anticipatory Socialization

The process through which individuals learn and adapt to the norms and expectations of a culture or group before they formally enter it.

Nonadaptive Organizational Culture

A company culture that struggles to adjust to new challenges, technologies, or environments, limiting progress and innovation.

Risk Taking

The act of undertaking actions or decisions that involve potential for loss or failure, typically in the hope of achieving a significant reward.

Fit Perspective

focuses on how well an individual matches with their work environment or role, emphasizing the importance of alignment for job satisfaction and performance.