Unformatted text preview: stock. c. Growth occurs over long time periods and can be measured. Thus, the growth function should have a dimension of time. In the forestry problem, the growth function is a function of time rather than a function of stock. Thus, the growth function in Part 1 in HW4 is not appropriate. You may regard this as a problem of fishery rather than forest. But the rules to find maximum carry capacity and maximum sustainable yield are right....
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- Spring '07
- Economics, growth function, Population dynamics of fisheries, Fisheries management, forestry problem