14. (Average value Complexico) Suppose that the price received for gold extracted from time k to k+I

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14. (Average value Complexico) Suppose that the price received for gold extracted from time k to k+I is the average of the price of gold at these two times; that is, (gx+8k+1)/2 However, costs are incurred at the beginning of the period whereas revenues are received at the end of the period Find the value of the Complexico mine in this case

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Investment Science

ISBN: 9780195391060

1st International Edition

Authors: David G. Luenberger

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