In problem 1, the size of the resource stock is = 10, and the resource is scarce
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In problem 1, the size of the resource stock is = 10, and the resource is scarce because all ten units are exhausted over the two periods. Given the demand conditions, cost conditions, and discount rate of problem 1, how large would the initial resource stock have to be before we declared that there was no binding resource scarcity?
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Related Book For 
Principles Of Microeconomics
ISBN: 9780812224177
1st Edition
Authors: Eugene Silberberg And Gregory Ellis
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