Economics of Non-Renewable Resources. Professor Anil Markandya Department of Economics and International Development University of Bath email@example.com tel. +44 1225 386954 Environmental Economics 2 March, 10 2006. What We Will Cover.
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Professor Anil Markandya
Department of Economics and International Development
University of Bath
tel. +44 1225 386954
Environmental Economics 2
March, 10 2006
Price of Backstop
Total Revenue and is given as TR
Q is quantity
Marginal Revenue is given as MR
Initial Price Path
Price Path After Fall in Cost
Could go to zero!
1. Compiled database of reserves and resources of oil and gas, with projections of likely discoveries over 21st century
2. Compiled scenarios of energy demand
3. Derived Operational Rules for sustainability
4. Applied rules to the empirical data
5. Evaluated policy implications of the results.
Centrally Planned Asia&China
Latin America & Caribbean
Middle East and North Africa
Other Pacific Asia
Central and Eastern Europe
Former Soviet Union
Western EuropeRegions In the Model