QUESTION 2 Assume that a country is endowed with 31 units of oil reserve. (a) the marginal willingness to pay for oil in each period is given by P = 12 - 0.53g (b) the marginal cost of extraction of oil is constant at $2 per unit (c) the discount rate is 1% (d) the marginal cost of renewable energy is $9, where cedca. How long will it take, for a country to transition to a renewable energy source? 55