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b) A rough estimate of the minerals in a country at the beginning of the 2001 was 300 million tons. Extraction in that year was
b) A rough estimate of the minerals in a country at the beginning of the 2001 was 300 million tons. Extraction in that year was 50 million tons. i) When will the reserves be exhausted if extraction is kept constant? ii) Suppose that due to the increasing depth of the mineral which translate to increasing cost of extraction, extraction declines every year by 15 percent. For how long will the mineral last
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