Posted by Kimberly on Monday, October 27, 2008 at 2:03pm.
You need to say what the subject is, and then complete the question
Subject for the question is from the subject Envoronmental Economics:
For each set of parameter values:
- Calculate the optimal time to extract the resource - How do you find transistion/switch point?
- Calculate the Extraction path (Q0, Q1, etc.)
- Calculate the MUC in each period - How do you find MUC?
- Calculate the optimal price in each period.
***********
- Graph each of these over time.
You can use the spreadsheet (webct) for the calculations.
(1) (2) (3)
For each set of parameter values:
- Calculate the optimal time to extract the resource
- Calculate the Extraction path (Q0, Q1, etc.)
- Calculate the MUC in each period
- Calculate the optimal price in each period.
- Graph each of these over time.
You can use the spreadsheet (webct) for the calculations.
I am currently trying to complete the homework due for today and I need help.
- Is the below equation used to find MUC? If not how do I find?
MUC = MBt– MC
- How do you find Switch point/transition point? Does this answer the question for finding the optimal time to extract the resource?
- Are we using both tabs in the spreadsheet or only the Backstop tab?
- If only using the backstop tab it appears I only need to change the TS, Interest rate and MBb values. Are there any other modifications needed on this on this worksheet to gain proper calculations?
- How do I calculate the extraction path?
- How do I calculate the optimal price in each period?
- For my graphs what should my vertical axis be? I know my horizontal will be T(time)
I am currently trying to complete the homework due for today and I need help.
Is the below equation used to find MUC? If not how do I find?
MUC = MBt– MC
How do you find Switch point/transition point? Does this answer the question for finding the optimal time to extract the resource?
Are we using both tabs in the spreadsheet or only the Backstop tab?
If only using the backstop tab it appears I only need to change the TS, Interest rate and MBb values. Are there any other modifications needed on this on this worksheet to gain proper calculations?
How do I calculate the extraction path?
How do I calculate the optimal price in each period?
For my graphs what should my vertical axis be? I know my horizontal will be T(time)
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