Natural Resource Economies Questionnaire Assignment
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Natural Resource Economies Questionnaire Assignment
1)Define the 5 different types of capital discussed in class (10 points). Provide an example of each type of capital applied to the creation of Odell’s IPA, Odell Brewing Company, Fort Collins, Colorado (10 points). (Chapter 2)
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2) Construct a single model that can be used for illustrating the management of renewable, nonrenewable and recyclable resources over two time periods (5 points). Provide a definition and example of each type of resource (5 points) and a brief interpretation of the variables in the context of the resource (5 points). Identify all situations under which sustainable extraction rates might take place (5 points).
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3) Complete the table below (10 points) that illustrates market failure under open access beach. Identify the open access solution and the socially optimal solution (5 points). Discuss the technical differences between privately optimal and socially optimal resource use and at least two means by which the situation might be improved from society’s perspective (5 points).
Daily costs and returns from an open access beach
Number of visitors (#)
Benefits per visitor ($)
Total benefits
($ revenue)
Cost per visitor ($)
Total cost ($)
Net returns per visitor ($)
Aggregate net returns ($)
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4) Provide a real world example and graphically illustrate a negative production externality. Graphically demonstrate how the following tools might be used to arrive at the socially optimal level of output: 1) taxation; 2) production quantity controls. Discuss the role of incentives and the likely distributional implications of your graphical solutions. Be sure to label all components of your graph. (20 points)
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5) The following table describes the benefits and costs arising from a program to restrict emissions of a pollutant. Current emissions are 10 tons/month. Identify the emissions level at which net benefits would be maximized. Show that this is not the same as the emission level that gives the highest benefit-cost ratio. Identify the economic optimal level of emissions and the approximate cost recovery level of emissions. Explain the discrepancy among max net benefits, cost recovery and max benefit-cost ratio.
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6) Illustrate and prove that the rate of output that equates MSB with MSC is (statically) efficient. Graphically illustrate that static efficiency results in greater benefits to society than production at a level greater than static efficiency would imply. (10 points) In a second graph, show and discuss what happens to the statically efficient rate of output when there is population and income growth? (10 points).
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7) Let D equal the domestic demand for oil, Sd equal the domestic supply and Si equal imported supply of oil for gasoline. Assume the world supply is infinitely elastic and the domestic supply is more price sensitive. Assume we currently import some oil and produce some for the domestic market.
- a) Graphically illustrate the scenario above. (5 points)
- b) Our domestic policy objective is to ‘minimize dependence on imported oil.’ Illustrate the effect of 1) an import tax on oil, 2) a domestic oil subsidy, and 3) domestic investment in hydrogen powered vehicles could meet that policy objective. (you may draw additional graphs, if you prefer) (10 points)
- c) Discuss the welfare implications of each policy option. (5 points)
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8) Many consider fossil fuel consumption to be fairly inelastic in the short run and more elastic in the longer term. In response to sharp increases in the price of petroleum (a) first people change their short term behavior to use less fuel, but more importantly (b) the expectation of long term price increases launched a wave of research into substitute sources of energy and their adoption by consumers. Please graphically illustrate effects (a) and (b) (10 points). Then (c) demonstrate graphically the likely effect of subsequent fossil fuel price decreases on fossil fuel demand (5 points). (d) Discuss the long-term effect of price expectation induced technological innovation and consumer preferences (5 points).
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9) A. Create a graph describing a hypothetical relationship between Timber values (H) and Biodiversity values (E) in order to establish the optimal number of clear cut timber plots (n) within a forest when the objective is to maximize the economic returns to both timber and biodiversity. (10 points)
- Please tell the story of this graph. Identify and provide the economic intuition for the optimal number plots when managing for 1) wood, 2) biodiversity and 3) both. (10 points)
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10) a. Following class discussions and the text, provide a fully labelled graphical illustration of the theoretical relationship between fishing effort and revenue.(5 points)
- Identify maximum fish stock, zero fish stock, maximum sustainable yield, the socially optimal rate of harvest and the open access solution. (5 points)
- Identify the resource rents and in situ value. (5 points)
- Discuss what causes these three possible effort rates (MSY, E* and OA) to differ and the implications of each effort rate on the health of the fishery (5 points).
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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