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The management at MooseWoods Park is trying to decide whether to install flush toilets at the MooseWoods Campground, as well as how many flush toilets to install (if they choose to install them). They concluded that they will install flush toilets if the total surplus is greater than $50 (in relation to the number of flush toilets at the equilibrium and the cost per campsite per night). Installing flush toilets will involve an increase in the cost per campsite per night. Researchers have calculated the demand and supply curves for flush toilets at this park. At $35 per campsite per night, no one will want flush toilets. At $0 per campsite per night, campers will demand 7 flush toilets. Managers are willing to supply no flush toilets at the current campsite cost of $5 per night, but are willing to supply 8 flush toilets at $25 per campsite per night. Please use the supply, demand and total surplus information to answer the following three questions:
The management at MooseWoods Park is trying to decide whether to install flush toilets at the MooseWoods Campground, as well as how many flush toilets to install (if they choose to install them). They concluded that they will install flush toilets if the total surplus is greater than $50 (in relation to the number of flush toilets at the equilibrium and the cost per campsite per night). Installing flush toilets will involve an increase in the cost per campsite per night. Researchers have calculated the demand and supply curves for flush toilets at this park. At $35 per campsite per night, no one will want flush toilets. At $0 per campsite per night, campers will demand 7 flush toilets. Managers are willing to supply no flush toilets at the current campsite cost of $5 per night, but are willing to supply 8 flush toilets at $25 per campsite per night. Please use the supply, demand and total surplus information to answer the following three questions:1. What is the number of flush toilets desired at the equilibrium point?
2. What is the total surplus?
3. Will the managers install the number of flush toilets determined in Question 1?
Final answer:Estimating the number of flush toilets at the equilibrium point, total surplus, and the decision to install flush toilets cannot be definitely provided based on the existing data. We need exactsupply and demandcurve equations for precise calculations.Explanation:To answer this question, we need to find theequilibrium pointwhere demand equals supply. Given the information provided, we can see that the equilibrium point will be at the cost per campsite per night where the number of flush toilets demanded equals the number supplied.At $0 per campsite per night, campers will demand 7 flush toilets while managers are willing to supply no flush toilets at this cost. At $25 per campsite per night, managers are willing to supply 8 flush toilets. Thus, the equilibrium will be somewhere between these prices. However, without specific equation of the supply and demand curves, we could only estimate the equilibrium quantity.Thetotal surplusis defined as the sum of consumer surplus and producer surplus at the equilibrium. Again, without specific details on the supply and demand curves, we won't be able to exactly calculate the total surplus.To answer the third part of the question, whether or not the managers will install flush toilets depend on thetotal surplus. The managers decided that they will install flush toilets if the total surplus is greater than $50. Without exact equilibrium and total surplus figures, we cannot definitively answer this part of the question based on the information provided.Learn more about Economics of Flush Toilets Installation here:brainly.com/question/30719598#SPJ12...