3. Show that Hotelling's condition (p = po(1+r)' for t = 1,...,T) is consistent with the equilibrium

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3. Show that Hotelling's condition (p = po(1+r)' for t = 1,...,T) is consistent with the equilibrium condition for efficient intertemporal resource extraction (p = MEC, + MUC for t = 1,...,T) when resource demand is constant and MEC = 0.

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Natural Resource And Environmental Economics

ISBN: 9780813829388

1st Edition

Authors: Tony Prato

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3. Show that Hotelling's condition (p = po(1+r)' for t = 1,...,T) is consistent with the equilibrium

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Natural Resource And Environmental Economics

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