Property Rights, Externalities, and Environmental Problems

timer Asked: Sep 24th, 2015

Question description

    1. A group of hunters go to a forest to hunt deer. There are no restrictions on hunting in the forest. The total benefits eventually decrease as effort increases as the deer population decreases. The total benefit and total cost as a function of effort for the entire forest are given below.

      TB(e) = 200e − 4e2TC(e) = 20e e2

      1. (a)

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