What total value of a stock of one million dry long ton unit, Microeconomics

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What total value of a stock of one million dry long ton unit

Problem

Given the assumptions of Hotelling's rule and constant extraction costs, what is the total value of a stock of 1 million "dry long ton units" of extractable iron ore if the current price is 40 cents per dry long ton unit and the extraction cost is 25 cents per dry long ton unit?

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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