Answered You can hire a professional tutor to get the answer.
(a) You own 100 acres of mineral rights to natural gas in Wyoming. Your wife urges you to sell these rights so that she can renovate your kitchen.
(a) You own 100 acres of mineral rights to natural gas in Wyoming. Your wife urges you to sell these rights so that she can renovate your kitchen. Instead, perhaps because you dislike the renovation plan, you insist on waiting at least one year before you consider the kitchen renovation. What is the nature of the economic return that you earn through this decision? (b) You own 100 acres of almond orchards in California. Your wife urges you to sell these rights so that she can renovate your kitchen. Instead, perhaps because you dislike the renovation plan, you insist on waiting at least one year before you consider the kitchen renovation. What is the nature of the economic return that you earn through this decision? How does this differ from your answer to part (a)? (d) What is the economic similarity between owning a Rembrandt painting and owning 100 acres of mineral rights to natural gas in Wyoming? (e) Would you say that owning a Rembrandt painting constitutes owning an asset? (f) Would you say that owning 100 acres of mineral rights to natural gas in Wyoming constitutes owning an asset? (g) Would you say that owning 100 acres of almond orchards in California constitutes owning an asset? (h) Which of these are natural assets?
