Groundwater represent an efficient use of resources

Assignment Help Business Economics

Reference no: EM131093211

In the Great Plains states west of the Mississippi river, annual rainfall is less than annual water usage for irrigation. The level of groundwater in the Ogallala aquifer that underlies the region is dropping precipitously. On its western edges the aquifer has already run dry and ghost towns exist. Does this depletion of the groundwater represent an efficient use of resources? If not, why aren't unregulated markets efficiently allocating the scarce resource of groundwater in this area? What policy remedy would you suggest?

Reference no: EM131093211

Questions Cloud

Consider the savings plans for two investors : Consider the savings plans for two investors-we'll call them Mary and Bill- who began inversting 10 years apart. Both put the same amount of money aside ($100 per month for 20 years for a total of $24,000). Mary and Bill earned the same interest rate..

Determine the minimum-phase system function h(z) : Determine the minimum-phase system function H(z).

Hybrid-fueled engine and six-speed transmission : Your brother has decided to purchase a new automobile with a hybrid-fueled engine and a six-speed transmission. After the trade-in of his present car, the purchase price of the new automobile is $30,000. This balance can be financed by the auto deale..

The inverse demand curve for stackelberg duopoly : The inverse demand curve for a Stackelberg duopoly is P =1847 - 2Q. The leader's cost structure is CL(QL) = 10QL. The follower's cost structure is CF(QF) = 21QF. Find the follower revenue

Groundwater represent an efficient use of resources : In the Great Plains states west of the Mississippi river, annual rainfall is less than annual water usage for irrigation. The level of groundwater in the Ogallala aquifer that underlies the region is dropping precipitously. On its western edges the a..

The change in the firewall performance : Automation the process of unifying the change in the firewall performance

Buying house-analyze the bargaining situation : Imagine you are a public administrator who has just been promoted to a higher position but must relocate to another city and purchase a different home. Using the five distributing bargaining skills, present the steps and various aspects you would con..

What is the aggregate mac curve for the industry : Suppose there are two types of firms in an industry. All the firms within each type are the same. What is the aggregate MAC curve for the industry? If the MPD curve for the pollutant emitted by the industry is MPD=2.8E, what amount of tradeable perm..

Contracts and the statute of frauds : Contracts are the essential part of all real estate transactions and no real estate can be transferred without the use of a written contract to prevent fraudulent practices and to be enforceable in a court of law.

User Account

All Pages