Groundwater represent an efficient use of resources

Assignment Help Business Economics

Reference no: EM13743150

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: EM13743150

Questions Cloud

How would you describe the financial condition of these area : How would you describe the financial condition of these areas? Is financing expensive to obtain and how are most businesses financed - Has there been any effort or progress in overcoming these impediments?

Us treasuries due to mature in one year were yielding : Suppose that "0" coupon US treasuries due to mature in one year were yielding .39%, while "0" coupon US treasuries maturing in 2 years were yielding .83%. If you were a risk neutral investor who wanted to choose between these bonds the one that offer..

What does victory in europe day : What does Victory in Europe day.

Differences in outcomes for the united states : Why, and to what degree are social forces different? Are differences in political systems an explanation?

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..

Explain myrdals concept of cumulative : Explain Myrdal's concept of cumulative and circular causation and compare and contrast it to Veblen's concept of cumulative causation.

Why is the shield so otherworldly : Why is the shield so otherworldly? Why does it (apparently) have moving parts? What kind of world is depicted on it? On it, two cities are depicted, among other scenes; one city is at war, the other one is peaceful.

Show that the probability of the union of events a and b : Show that the probability of the union of events A and B can be written as follows: P(AUB)=P(A)+P(B)[1-P(A|B)]

Requirement for an effective financial system : Question 1: A basic requirement for an effective financial system is a monetary system that performs which of the following financial functions?

User Account

All Pages