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

John Hartwick

Working Paper from Economics Department, Queen's University

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.

Pages: 25
Date: 1980
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:386

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