Solved: After how many years will oil reserves run out, Microeconomics

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After how many years will oil reserves run out

Problem

It is estimated that world reserves of oil currently stand at 2625 billion units. Oil is currently extracted at an annual rate of 45.5 billion units and this is set to increase by 2.6% a year. After how many years will oil reserves run out?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: After how many years will oil reserves run out

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