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Bahan kajian MK. STELA.smno, jtnh fpub Mei 2014
VALUASI EKONOMI SUMBERDAYA LAHAN Bahan kajian MK. STELA.smno, jtnh fpub Mei 2014
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PASAR LAHAN DAN SUMBERDAYA ALAM
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Fixed supply of land (to all uses)
The supply of land to all uses is fixed Owners receive economic rent
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Land supply to a given use
The supply of land to a given use is upward sloping Land is shifted to its most valuable use (subject to restrictions in zoning laws, etc.)
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Renewable and nonrenewable resources
nonrenewable resources (also known as exhaustible resources) have a finite supply that is depleted as the resource is consumed renewable resources – can be replenished by producers
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Price of a nonrenewable resource over time
Price changes over time for nonrenewable resource: Owner may sell a unit today or sell it later at a higher price Owner supplies more today if the expected rate of price increase is less than the interest rate: leads to lower price today and higher price later Owner supplies less today if the expected rate of price increase exceeds the interest rate: leads to higher price today and lower price later In equilibrium – rate of price change = interest rate
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