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Read the following article on the issue of how national parks in the US cope with a large number of visitors. https://www.

Read the following article on the issue of how national parks in the US cope with a large number of visitors. 

https://www.mnn.com/earth-matters/wilderness-resources/stories/should-we-limit-visitors-national-parks

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Assume that they want to restrict the number of visitors to Yellowstone to 3m visitors a year, which is smaller than the current record at 4.3m. They consider two policies: 

(i) raising the price of admissions, and

(ii) setting a quota that limits the number of visits to 3m. Compare the effect of these two policies on consumer surplus and welfare. Use a graph to show which policy is superior. 

 

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