The current extraction of a certain mineral is 12 million tonnes a year, and this is expected

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The current extraction of a certain mineral is 12 million tonnes a year, and this is expected to fall at a constant rate of 6% each year. Estimate the current minimum level of world reserves if the extraction is to last in perpetuity.

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Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

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Question Posted: Apr 18, 2019 09:19 AM

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The current extraction of a certain mineral is 12 million tonnes a year, and this is expected

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In the first year the amount extracted is 12 million tonnes In the secon...View the full answer

Mathematics for Economics and Business

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