Consider a nonrenewable resource that can be consumed either today (period 1) or tomorrow (period 2) and has a finite supply of 8 units.Assume the inverse demand for the resource in both periods is:

P_1 = 60 - 5Q_1

P_2 = 60 - 5Q_2

Assume the marginal cost of extracting the resource is constant at $10and the socialdiscount rate is 10 percent (r= .10).

Assuming the resource is allocated efficiently, what are the undiscounted net benefits in period 2?