2. There is one public golf course on the island of Augusta. The golf course's demand...

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2. There is one public golf course on the island of Augusta. The golf courses demand and cost curves are shown in the graph

b. When the attendance is Q5, is the demand price elastic, inelastic, or unit elastic? Explain. C. Assume that the government

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Answer 1

Answer #1

B) demand is inelastic as below midpoint in demand curve demand is inelastic.elasticity= 0.5

C) if no fees is charged then all attend the golf course so attendance at P= 0 will be Q₇.

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Answer 2

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