Question

. The sale and export of ivory from African elephant tusks is illegal under CITES Nevertheless, there is a black market for ivory. Suppose the annual demand per unit of ivory is given by O Ha bP, where a 1000 (in tons) and b-1. The annual supply is an upward function of price such that Q where X is the stock of wild African elephants, Assume that X-1,000. The reproduction of elephants is such that the stock evolves according to Xt+1-X, +gX,-Q with g = 0.1, which is the intrinsic growth rate of elephants. Here the variable Q signifies the market quantity of ivory extracted from one elephant. a. Use the information to fill in the following table. Price of Poached Ivory Quantity of Poached Stock of Elephants (Pt 500 Ivory (3 500 1000 4

Answer 1

여 1000 lopo Yo 21000 2 l00 O 6 oo 28S 500 S00 2 625 778221.79 TIb 983.1 9 62 1.379 375 8 4 16 6 627 1.38 6

Qと 400 329, y 244 52 1000 C. 200 200 400 470.5 - 140.6 + 2oO lood 11L, 800. 2 700 to1メ700 -- 329.4 40, 6 1000P 2

sto c wuld Hence Ll_ diol-helf an elephano gett: 200 K400 +-200メ4706 t