Nonrenewable Resource Exploitation by a Dominant Seller and a Fringe Group with Rising Costs

John M. Hartwick

Working Papers from Queen's University, Department of Economics

Abstract: A dominant seller with a large finite stock of low cost nonrenewable resource sets a price path for a price-taking fringe group with deposits of rising extraction costs. The nature of profit-maximizing prices and quantities for the dominant seller is investigated and in particular, the way a market is shared by the two selling agents period by period in a discrete time framework.

Date: Written

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Persistent link: http://EconPapers.repec.org/RePEc:qed:wpaper:386

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