Question: QUESTION 6 Think the two-period model for a depletable resource such as coal. Period 1 is current time and period 2 is future, a year

QUESTION 6 Think the two-period model for a depletable resource such as coal. Period 1 is current time and period 2 is future, a year later. Annual discount rate is 5%. The (inverse) demand function for period 1 is P=27-Q and its marginal (extraction) cost is constant 3. The (inverse) demand function for period 2 is P=15-0.5Q and its marginal (extraction) cost is constant 3. Suppose the supply of coal is limited to 30 units. The dynamically efficient quantities and prices are Q1= and P for period 1 and Q2= and P2= for period 2. Hint: Round numbers to one decimal place

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