A farmer is located next to the rancher. They face the following problem.Cattle graze on the farmer's fie rancher's business is worth $100 annually (not taking into account any crop damage). The farmer's bu: cost $10 to build a fence that would keep the cattle off the farmer's property. If the farmer is given prope O A. the rancher will pay the farmer $30 in damages; the farmer will build the fence B. the rancher will pay the farmer $30 in damages; the farmer will accept the $30 in crop damages C. the rancher will build the fence; the farmer will accept the $30 in crop damages O D. the rancher will build the fence; the farmer will build the fence

A farmer is located next to the rancher. They face the following problem.Cattle graze on the farmer's fie rancher's business is worth $100 annually (not taking into account any crop damage). The farmer's bu: cost $10 to build a fence that would keep the cattle off the farmer's property. If the farmer is given prope O A. the rancher will pay the farmer $30 in damages; the farmer will build the fence B. the rancher will pay the farmer $30 in damages; the farmer will accept the $30 in crop damages C. the rancher will build the fence; the farmer will accept the $30 in crop damages O D. the rancher will build the fence; the farmer will build the fence

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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