ps2 - ESM 242 Assignment#2 Due in class Thursday 1...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ESM 242: Assignment #2 Due in class Thursday April 26, 2007 1 Renewable Resources 1. Consider a renewable resource that is unexploited, and so the initial population is at carrying capacity. The resource is then opened up to harvesting, but no restrictions are placed on who can harvest, what technologies they use, or how much they harvest – it is an open access resource. (a) How would you calculate the present value of economic returns (i.e. economic rents) to this resource? Are they zero? (b) What conditions are required for this resource to be driven to extinction? How would you calculate how long it would take? (c) What conditions are required for this resource to be sustainably harvested? (d) How does environmental variability affect these conclusions? 2. Suppose a particular resource is governed by the following growth function: X t +1 = X t + rX t (1- X t )- H t (1) where r = 0 . 001 is the intrinsic growth rate of the population, X t is the resource stock and H t is harvest in period t . Note: Throughout this problem, X and H are both in units of 10 4 kilograms. (a) Explain this equation in words....
View Full Document

This note was uploaded on 08/06/2008 for the course ESM 242 taught by Professor Costello during the Spring '07 term at UCSB.

Page1 / 2

ps2 - ESM 242 Assignment#2 Due in class Thursday 1...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online