Nonrenewable/Renewable Resource

C​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​hoose a major environmental issue in Australia that can be classified as a renewable or non-renewable resource management issue. Issues may be drawn from a number of areas, including Energy, Minerals and Forestry. (i) Provide a brief overview of the issue (ii) Identify issues with the rate of resource allocation and the time horizon issues (iii) Explain how marginal benefits and costs of extraction or harvest can change over time (iv) Identify the appropriate economic analysis to identify optimal rates of harvest or extraction. (v) Identify the implications of extraction or harvest rates in terms of sustainable development. (vi) Review available government policies to deal with these kinds of issues and identify preferred options to address the problem. Instructions This assignment is to be written as a single essay and include diagrams and references. You should aim to develop a logical framework for your arguments in a structure that allows you to address the key questions posed.