For the increasing marginal-extraction-cost model of the allocation of a depletable resource, how would the ultimate cumulative
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For the increasing marginal-extraction-cost model of the allocation of a depletable resource, how would the ultimate cumulative amount taken out of the ground be affected by
(a) an increase in the discount rate,
(b) the extraction by a monopolistic, rather than a competitive, industry, and
(c) a per-unit subsidy paid by the government for each unit of the abundant substitute used?
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Related Book For
Environmental And Natural Resource Economics
ISBN: 978-1138632295
11th Edition
Authors: Tom Tietenberg ,Lynne Lewis
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