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DEPLETABLE RESOURCES / THEORY OF THE MINE (20 points) A firm that wishes to maximize the present value of profits from the extraction and sale
DEPLETABLE RESOURCES / THEORY OF THE MINE (20 points) A firm that wishes to maximize the present value of profits from the extraction and sale of a depletable resource. Demand is inelastic, but there is a backstop technology. Demand is also affected by income growth and improvements in energy efficiency. There may also be a pollution externality associated with consumption of the resource
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Theories Of Value From Adam Smith To Piero Sraffa
Authors: Ajit Sinha
2nd Edition
0429807716, 9780429807718
