environmental economics

a) Suppose the Malaysian government is considering establishing a national park in a scenic forested area in Sabah. Local opposition arises from those who wish to use forest land for timbering and agriculture. On the other hand, the national park would draw both local and foreign visitors as tourists. Could cost-benefit analysis aid the decision on whether to establish the park? List down and discuss all potential costs and benefits. (10 marks) b) Propose a non-market valuation study to establish the value of the above national park. Your proposal must include the following: . A brief problem statement with clear objectives. . The non-market valuation technique of your choice and detail steps on how to conduct the study starting from instrument development to the survey technique. (40 marks)