Development of the best economic mixture

Reference no: EM13968585

In making a land-use policy decision, a planner had to consider three objectives: the development of the best economic mixture of industrial and residential uses, the preserva tion of sensitive environmental areas, and satisfying the largest industrial firm in the community. Attributes to measure achievement along these three objectives were devel oped.

Let kecon represent the scaling constant for the economy, kenv the scaling constant for the environmental concerns, and kfirm the scaling constant for satisfying the firm. After careful thought, the planner assessed kecon = 0.36, kenv = 0.25, and kfirm = 0.14. Use Equation 16.3 for the multiplicative utility model to verify that the scaling constant k is approximately 1.303.

Reference no: EM13968585

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