What Do Most Economists Think Is the Socially Optimum Extraction

question 76

Multiple Choice

What do most economists think is the socially optimum extraction rate of a natural resource such as oil?

• A)One that equals the MRP of the resource.
• B)A rate that ensures that the price of oil increases at the same rate as the interest rate.
• C)One that is less than the rate of discovery of new sources.
• D)One that is less than 2 percent of known reserves so as to guarantee at least 50 years' supply at all times.

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