At the Interest Rate R, the Price of a Depletable

question 152

Multiple Choice

At the interest rate r, the price of a depletable natural resource three years from the present (price in present = P) will be, everything else being equal, which of the following?

• A)3P 
• B)P₃ 
• C)P(1 + r)3 
• D)3P(1 + r)3

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