Fare 2700

Inter-temporal allocations of water from non-renewable groundwater sources give rise to scarcity and marginal user cost. Assuming constant demand for water across time, a dynamic efficient allocation of water from a non-renewable aquifer will fulfill which of the following statements? O Both the price of water and quantity extracted will decrease over time. The price of water will increase over time, and the quantity extracted will decrease over time. The price of water will stay constant over time, and the quantity extracted will decrease over time. O Both the price of water and quantity extracted will increase over time