1. Suppose demand for an exhaustible resource is p(t) = 20 - Q(t). There are two competitive types of producers each producing an identical product. The high cost producers have marginal cost of production equal to ch = 4, while the low-cost producers have marginal costs of c = 2. The interest rate is r, and doubling times associated with this r are 50 years in length. (a) Explain why both producers cannot produce simultaneously over any interval of time, t