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

John M. Hartwick

No 275160, Queen's Institute for Economic Research Discussion Papers from Queen's University - Department of Economics

Abstract: Nonrenewable Resource Exploitation by a Dominant Seller and a Fringe Group with Rising Costs. 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 in which the market is shared by the two selling agents period by period in a discrete time framework.

Keywords: Financial; Economics (search for similar items in EconPapers)
Pages: 29
Date: 1980-05
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Persistent link: https://EconPapers.repec.org/RePEc:ags:queddp:275160

DOI: 10.22004/ag.econ.275160

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