Asked by
Jessica Breeze
on Oct 08, 2024Verified
Alex and Ben are both loggers wanting to harvest timber from the same forest.Alex prefers to harvest and replant at a sustainable rate;Ben wants to harvest as many trees as possible to maximize short-run profit,and then move on.They face the same production costs. Refer to the information given.If property rights are well-defined and enforced:
A) Alex could buy Ben's part of the land and harvest and replant in a sustainable manner.
B) Ben could buy Alex's part of the land and harvest all the timber as quickly as possible.
C) incentives to harvest and replant in a sustainable manner are greater than with no property rights.
D) all of these could occur.
Property Rights
Legal rights to possess, use, and dispose of assets including real estate, personal property, and intellectual property.
- Acquire insight into how sustainability and the enforcement of property rights differ between forestry and fisheries management.
Verified Answer
TG
Learning Objectives
- Acquire insight into how sustainability and the enforcement of property rights differ between forestry and fisheries management.
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