Examine how the inclusion of non-timber benefits alters the optimal stand age at which felling takes place.
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Examine how the inclusion of non-timber benefits alters the optimal stand age at which felling takes place. Does the change vary from one set of non-timber values to another? Do your conclusions differ between the cases where the discount rate is 2% and 4%?
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Related Book For 
Natural Resource And Environmental Economics
ISBN: 9780321417534
4th Edition
Authors: Roger Perman, Yue Ma, Michael Common, David Maddison, James McGilvray
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