John Hartwick () (Queen's University) Andrei Bazhanov (Far Eastern National University, Vladivostok) Zhen Song (Central University of Finance and Economics, Beijing)
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We consider a competitive extraction industry comprising many small firms, each with a slightly different quality of mineral holdings. With "rapidly" declining quality of holding per firm we observe rent declining over and interval. We do not work with the planning solution, commonly invoked in the study of firms with distinct qualities of stock.
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Paper provided by Queen's University, Department of Economics in its series Working Papers with number
1139.
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