Explain the following:
(Critically Depensated) Growth Function
Sustainable Yield Functions
Logistic Growth Function
Riperian method of water allocation
Water allocation pricing structures
Marginal cost of a depletable resource (inter-temporal model)
Net Marginal Benefit
Hotelling's rule
Choke price
Sources of water pollution
Brownfields
Super fund
Individualism
Common good
Virtue
1. Using TR and TC curves explain the following concepts: open-access optimum, marginal -sustainable yield and economic optimum for renewable-resource use such as clamming.
2. In case of a renewable resource use, Open access optimum will most likely yield an extraction level higher than the maximum sustainable yield. Explain and support graphically that, with well-defined ownership, the economic optimum could result within the bounds of sustainable yield.
3. Explain with the help of a graph that when a forest should be harvested.
4. Explain and show graphically that, in an inter-temporal model (more than one period), some of a depletable resource such as oil is saved for future use. Also explain that if the future expected value is discounted consumption in the first period will increase.
5. Explain and support graphically that as the substitutes for a depletable resource improves (declining MC), it is possible that as time passes the resource will gain prominence.
6. Explain the issues pertinent to water (mostly potable).
7. Explain the conventional methods used in the allocation of water.
8. Explain the bargaining model in resolving environmental conflicts.
9. Explain dispute resolution and the methods of dispute resolution
10. Explain the anthropocentric ethical issues as they relate to environmental issues.
11. Explain approaches reflecting eco-centric morality.