Volume 43, Number 170,
July-September 2012
Energy Resources in Argentina:
Analysis of Income
Marina Recalde
Methodology ( ...continuation )

Using assumption 5 as a starting point, and Marx’s theoretical base, the production price for hydrocarbon products and their market price are defined as:

Equation 1

With:
Equation 1


eq(2)

where:

   pp: production price in deposit j.
Equation 2_1 sum of different costs i in the production process for deposit j.

These are defined as:

Equation 3 (eq. 3)

Where:

jexp: exploration costs for deposit j

jext: extraction costs for deposit j

jdev: development costs for deposit j

Símbolo s: normal profit margin

P: market price for the product

pp mg: price of production in marginal deposit

Figure 3: sum of different costs i in the production process for marginal deposits

pp j: price of production in deposit j

q j: production in deposit j

q j/ Q: relative contribution of each deposit

pp ME: average price of production equal to average cost

RD j: differential rent between deposit j and marginal deposit

RD: total rent differential

Published in Mexico, 2012-2017 © D.R. Universidad Nacional Autónoma de México (UNAM).
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