6. Suppose a landowner is required to refrain from developing his or her land in order to...
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6. Suppose a landowner is required to refrain from developing his or her land in order to preserve the habitat of an endangered species. The restriction reduces the value of the land by 50%, to $1 million. Under present law, the landowner does not have to be compensated. Several proposals considered by Congress would require that this landowner be compensated. How does this affect the cost of the regulation?
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Principles Of Microeconomics
ISBN: 9781843317708
1st Edition
Authors: Libby Rittenberg, Timothy Tregarthen
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