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Consider a competitive mining market where scarcity is present. If a backstop technology become cheaper, then the price path becomes negatively sloped until prices

Consider a competitive mining market where scarcity is present. If a backstop technology become cheaper, then the price path becomes negatively sloped until prices fall to zero. becomes flatter and it takes longer for price to reach its maximum level. does not change. Becomes steeper and it takes less time for the price to reach its maximum level.

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