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Suppose the demand for an exhaustible resource is Qt-200-pt-the interest rate is 8%, the initial amount ofthe resource is 158.24 pounds, and the marginal cost of extraction is zero. Assuming all of the resource will be extracted in two periods, what is the price in the first period? $□ (Enter your response rounded to two decimal places) How much is extracted in the first period? pounds (Enter your response rounded to two decimal places.) What is the price in the second period? S(Enter your response rounded to two decimal places.) How much is extracted in the second period?pounds (Enter your response rounded to two decimal places.)

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