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Suppose the demand for an exhaustible resource is Q; = 200 '19:: the interest rate is 8% the intital amount of the resource is 450.00
Suppose the demand for an exhaustible resource is Q; = 200 '19:: the interest rate is 8% the intital amount of the resource is 450.00 pounds and the marginal cost of producing the resource is $20.00. The resource must all be extracted in two periods. The price in the first period will be $|:|. 114.02 20.00 12.00 11?.31
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