Assume: That there is a popurlar recreation reserve 15 kilometres outside a large city. The reserve, which is about 1000 acres in area, is owned and maintained by the Parks and Recreation Division of the City Council. The reserve is very popular and people do not pay an entry fee to enjoy the use of the small lake, river, picnic and camping sites fishing, and walking trails. 1.Introduction This report is submitted to City Council of Palmerston …showed first 75 words of 1956 total…

…showed last 75 words of 1956 total…Miller, S. (1997). The Economic Benefits of Open Space. Retrieved 1997 from the World Wide Web: http://www.greatswamp.org/publications/miller.htm. Barlowe, R. (1985). Land Resource Economics: The Economics Of Real Estate (4th ed.). Englewood Cliffs, New Jersey: Prentice Hall, Inc. Clawson, M., Held, R., B., & Stoddard, C., H. (1960). Land for the Future. The United States of American: Franklin Printing Company. Edwards-Jones, G.; Davies, B.; Hussain, S.; (2000). Ecologial Economics: An Introduction. Oxford: Blackwell Science.