Question 1 what rate of growth of consumption will allow, Ask an Expert

Economics

Question: 1. What rate of growth of consumption will allow the current reserves of a natural resource to last for the next 50 years if this year's consumption is forecast to be 8 million tonnes and total reserves are 1,220 million tonnes?

2. World annual usage of mineral M is actually declining by 5% a year. The current rate of extraction is 65 million tonnes per year. Total reserves in existence amount to 1,500 million tonnes. Will they last forever if the 5% per annum decline persists?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92290868

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