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What are the conclusions that we have to draw from the foregoing discussion? We must conclude that the prevailing practice of evaluating benefits and costs in terms of present costs and prices is not only likely to lead to an under-statement of actual costs, but also may lead to gross...
The complexity of the production process and the importance of nonmarket or intangible inputs and outputs pose special problems in the allocation of wildlands resources. By restricting the production possibilities to a finite number of management alternatives, the land manager can use activity...
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