2. Price is a simple indicator of value for things traded in markets. Yet if the economic problem also applies to something like a wilderness area, which has no price to indicate value, then how are we to assign value to it? In your answer, consider the following:

a. Think of some specific indicators of the monetary value of a wilderness area that an analyst could measure.

b. What are some monetary indicators of the opportunity cost of wilderness preservation?

c. If we were to make a decision regarding how to manage the land area under analysis based on the information you provided in (a)

and

(b) above, what other elements of value might be omitted and thus not be reflected in the policy decision?