The inverse demand function for a depletable resource is given by P=20-0.4q. The marginal cost of… 1 answer below »
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The inverse demand function for a depletable resource is given by P=20-0.4q. The marginal cost of supplying it is constant at $4. If 500 units are to be allocated between two periods, in a dynamically efficient allocation how much would be allocated to the first period and how much to the second period if the discount rate is 10%?
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