If the goal in managing nonrenewable resources is to extend the life of these resources by slowing extraction rates, rather than promote economic efficiency, then oligopoly markets where you only have a few producers are preferable to both monopoly and competitive markets. competitive markets are preferable to monopoly markets. subsidizing competitive market participants would be effective policy. monopoly markets are preferable to competitive markets.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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If the goal in managing nonrenewable resources is to extend the life of these
resources by slowing extraction rates, rather than promote economic efficiency, then
oligopoly markets where you only have a few producers are preferable to both
monopoly and competitive markets.
competitive markets are preferable to monopoly markets.
subsidizing competitive market participants would be effective policy.
monopoly markets are preferable to competitive markets.
Transcribed Image Text:If the goal in managing nonrenewable resources is to extend the life of these resources by slowing extraction rates, rather than promote economic efficiency, then oligopoly markets where you only have a few producers are preferable to both monopoly and competitive markets. competitive markets are preferable to monopoly markets. subsidizing competitive market participants would be effective policy. monopoly markets are preferable to competitive markets.
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