What is the per hectare gross value

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Reference no: EM133298256

Question: Sustainable (Hicksian) income. Suppose you inherit a tract of forestland. You hire a forester and they tell you that the forest is capable to sustainably produce, on average, per hectare, per year, 2 cubic meters of marketable wood. If you can sell your wood for $80/cubic meter, and assuming the rate of biomass production is constant over time, what is your sustainable (gross) income (hint: that's the I in the sustainable income formula) per year, per hectare?

What is the per hectare gross value (hint: that's the W in the formula) of your forest capital (assuming one keeps it a forest in perpetuity)? Use r=0.05.

Reference no: EM133298256

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