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The factors that influence efficient renewable resource management are the same as the factors that affect nonrenewable resource management: the demand for the resource, the initial stock, the costs of extraction, and the discount rate. In contrast to nonrenewable resources, of course, the growth rate of the renewable resource also plays a role. Let's compare and contrast the roles of these factors for the two kinds of resources. (a) How does a higher discount rate affect the immediate harvest of a renewable and a nonrenewable resource? Does a higher interest rate have the same or different qualitative effect? (b) How does an increase in the initial stock affect the immediate harvest of a renewable and a nonrenewable resource? Does it have the same or different qualitative effect? (c) How does an increase in costs of extraction affect the immediate harvest of a renewable and a nonrenewable resource? Does it have the same or different qualitative effect? (d) Suppose that demand for a renewable resource is expected to increase in the future. Would resource managers prefer to have more or less of the resource available then? How can they arrange to have their preferred stock at that time? What effect will that arrangement have on current harvest of the renewable resource? Is this effect qualitatively the same as or different from the effect of future increased demand for a nonrenewable resource? (e) Unlike for a nonrenewable resource, it is possible to have a sustained-yield harvest of a renewable resource. Is a sustained-yield harvest always desirable? Provide an example of a situation where an unsustainable harvest may nevertheless be efficient. (f) Nonrenewable resources, such as aquifers (underground pools of water) can also be open-access resources. Do you expect that open access will pose the same problems for nonrenewable resources that they do for renewable resources? Why or why not?
assume you are a policymaker in washington dc. lobbyists for the preschoolers of america have put pressure on their
The price of Labor (L) is $50 for each unit and the price of capital (C) is $20 per unit. How much labor and capital should Joy employ to produce 100,000 units? Find out the total cost of production?
a struggling company currently has a net worth of 700000. it owes 500000 from debt financing assume these are loans
why might you expect to see flat royalty payments in home-based franchises but revenue-based royalties in franchises
why is the monopolistic competitors demand curve more elastic than a pure monopolists but less elastic than a pure
what are your thoughts regarding the argument that the u.s. approaches situations with a reactive stance as opposed to
Copy the budget line and indifference curve I2 on your answer sheet. Suppose the prices of good X decrease by $2 per unit. Sketch (as accurately as you can) the new budget line in the diagram and indicate the new equilibrium point by drawing an addit..
Give at least two examples of a perfectly competitive market and explain what characteristics led you to that decision. Second, give at least two examples of a monopoly market and explain what characteristics led you to that decision.
Critically evaluate the issue in terms of its effects upon businesses, consumers or a particular firm, including how the affected parties have responded, or plan to respond.
If 50 applicants are chosen at random, what is the probability that 17 or more of them will meet the GPA threshold? (Note: You’ll want to use your answer from part a. If you’re not sure about this answer (and even if you are), be very clear about yo..
What is firm's cost of capital at the various combinations of debt and equity? What is the firm's optimal capital structure? Construct a balance sheet showing that combination of debt and equity financing.
The firm faces a constant marginal revenue curve given by:MR = 200 and how should the firm allocate production?-How much should Factory #1 produce and how much should factory #2 produce?
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