Fig. 3
A line graph showing the Option Value Doller/ha over 65 years for four different Initial Agriculture Land Values. The graph illustrates that lower initial land values Doller100/ha maintain a significantly higher option value over time compared to higher land values Doller1000/ha, which stay near zero.

Option values ( $/ha ) at varying starting values for agriculture land ( $/ha ) for the ethanol plus pulpwood model for a price increase of $0.11/ litre.

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