Imagine a scenic canyon, visited by many local people as well as tourists from beyondthe local area. Consider a scenario in which a mining company has proposed to the localauthority that it be closed to the public and put into the production of coal. Thinking interms of economics as a way of adjudicating the relative value of one use of the canyon overthe other, what would you need to know in order to make a comparison or assessment?What kinds of quantitative data would inform your decision, and where might they comefrom? What kinds of things might you need to know that are hard to measure? Once youhave listed the kinds of information and data that might be available to inform this decision, do you think it would be sufficient to making this decision, why or why not?
Imagine a scenic canyon, visited by many local people as well as tourists from beyond
the local area. Consider a scenario in which a mining company has proposed to the local
authority that it be closed to the public and put into the production of coal. Thinking in
terms of economics as a way of adjudicating the relative value of one use of the canyon over
the other, what would you need to know in order to make a comparison or assessment?
What kinds of quantitative data would inform your decision, and where might they come
from? What kinds of things might you need to know that are hard to measure? Once you
have listed the kinds of information and data that might be available to inform this decision, do you think it would be sufficient to making this decision, why or why not?
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