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Define a function that determines the longest increasing sequence in a list of numbers.

Ex: (lis (4 -2 0 3 -1 7 5)) returns the list (-2 0 3)

QUESTION 3

Assume that the oil extraction company needs to extract Q units of oil (a depletable resource) reserve between two periods in a dynamically efficient manner What should be a maximum amount of Q so that the entire oil reserve is extracted only during the 1st period if (a) the marginal willingness to pay for oil in each period is given by P = 20 – 0.2q. (b) marginal cost of extraction is constant at $2 per unit, and (c) discount rate is 2%?

QUESTION 4

Assume that a country is endowed with 5 units of oil reserve. There is no oil substitute available. How long the oil reserve will last if (a) the marginal watingness to pay for oil in each period is given by P = 7 0 42q. (b) the marginal cost of extraction of oil is constant at $2 per unit, and (c) discount rate is 1%?

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