ECON 3803 Study Guide - Final Guide: Market Failure, Stumpage, 0 (Year)
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Econ 3803 a economics of natural resources. Explain the difference between the two main revealed preference approaches: explain what is meant by a pareto sub-optimal resource allocation, outline the connections and distinctions between efficiency considerations and distributional, or welfare considerations. Explain your response: briefly discuss, with a diagram, the economics of recycling. Explain: briefly discuss the concept of energy self-sufficiency. In what three ways can a country such as the usa reduce its import dependency ratio: the optimal rotation age of a forest resource is sensitive to several factors. Identify three of these factors and explain how they will affect the optimal rotation age: briefly differentiate between the two types of public policy for resource allocation incentive-based policies; and direct controls. Provide two examples for each of these policy types: the concept of marginal user cost (muc) in resource extraction is important . ,300/ha in year 75 at a discount rate of 3%.
