True or False? (Feel free to give an additional explanation with sentences or graphs) a. When we exploit forest we consider only the maximum volume of timber and maximum average annual revenues over time. b. Economically-optimum rotation period for harvesting timber would be longer (in unit of time) with the increase of discount rate. c. Wood certification is a form of intervention to resolve market failure.

True or False? (Feel free to give an additional explanation with sentences or graphs) a. When we exploit forest we consider only the maximum volume of timber and maximum average annual revenues over time. b. Economically-optimum rotation period for harvesting timber would be longer (in unit of time) with the increase of discount rate. c. Wood certification is a form of intervention to resolve market failure.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter14: Transaction Costs, Asymmetric Information, And Behavioral Economics

Section: Chapter Questions

Problem 1.2P

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I need a brief explanation of this Question no.5