Suppose you have a depletable resource that you would like to allocate over two periods, t=1,2. What is the dynamically efficient allocation of this resource if the demand in each period is given by P= 10 - 0.2Q. Assume marginal cost is constant at $2/unit, there are only20 units of the resource available, and the discount rate is 8%.

a. Solve for the dynamically efficient use of this resource in each of the periods q₁ and q₂.

b.Compute the marginal user cost for each period.

c.explain the significance of the marginal user cost.