Exhaustible and Recyclable Resources > Extraction with increasing demand and a backstop

Answer

  1. R1=400, R2=1200, R3=3600; P1=900, P2=1700, P3=4100; Q1=2400, Q2=1600, Q3=400.
  2. R1=300, R2=900, R3=2700; P1=800, P2=1400, P3=3200; Q1=2800, Q2=2200, Q3=1300. Total production from the backstop=1900.
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Peter J Wilcoxen, The Maxwell School, Syracuse University
 Revised 05/10/2006