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Resource stock - PowerPoint PPT Presentation

Lecture 10

Lecture 10. The efficient and optimal use of renewable resources. What are renewable resources?. Examples: Renewable stock resources : fishery, forestry, water, wildlife, arable land, grazing land, soil, anti-biotic and pesticide resistance

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742 views • 59 slides

Environment and Natural Resource Economics Course

Environment and Natural Resource Economics Course. Nanjing Agriculture University September 4 to September 30, 2006 Lecturers: Volker Beckmann, Humboldt University Max Spoor, ISS, The Hague Justus Wesseler, Wageningen University. Lecture 5 and 6. The efficient and optimal use of natural

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849 views • 52 slides

YLE13: Hotelling model

YLE13: Hotelling model. Marko Lindroos. Questions to be answered wrt non-renewable resources. What is the optimal extraction rate q? Market prices p in time? When do we run out x(T)=0, T?. Answers will depend on. Demand Discount rate Known reserves of the resource Price of the subsitute.

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318 views • 29 slides

Chapter 1

Chapter 1. What is economics? The study of scarcity, incentives, and choices . Economics Models Simplified characterizations of reality that help to highlight and understand the main concepts Examples Market Equilibrium Marginal Cost/Marginal Benefit Analysis

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339 views • 19 slides

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Resource stock - PowerPoint PPT Presentation

Lecture 10

Environment and Natural Resource Economics Course

YLE13: Hotelling model

Chapter 1