Suppose we allocate a fixed supply of a depletable resource between two periods in a dynamically efficient way. Assume further that the demand function is constant in the two periods and the marginal willingness to pay is given by the formula P = 8 - 0.35q while the marginal cost is constant at $1 per unit. The total supply is 21 units and the

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Q: Suppose we allocate a fixed supply of a depletable resource between two periods in a dynamically…

A: Given; Demand function; P=8-0.34q Marginal Cost= $2 per unit Total supply in two period= 20 units…

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