Chapter 5 Resource Allocation over Time

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Presentation transcript:

Chapter 5 Resource Allocation over Time

Supply, Demand, and Marginal Net Benefit for Copper (supply and demand for copper)

Supply, Demand, and Marginal Net Benefit for Copper (marginal net benefit for copper)

Allocation of Copper Over Two Time Periods

Different Intertemporal Resource Allocations (Optimal Intertemporal Resource Allocation)

Different Intertemporal Resource Allocations (Suboptimal Intertemporal Resource Allocation)

Market for Copper with User Costs (First Period)

Market for Copper (Second Period)

Intertemporal Resource Allocation

Hotelling's Rule on Equilibrium Resource Price

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