Question: 7 i need answer from e to i dont paste answers from someone else Roger and Zoe spend their vacation time at a nice cottage

7

i need answer from e to i dont paste answers from someone else

7 i need answer from e to i dont paste answers
Roger and Zoe spend their vacation time at a nice cottage that they own in the countryside. Farmer Torti lives next door and normally lets his twelve sheep graze in his field. The sheep eat so quickly that it causes them to burp loudly, a very disruptive sound for Roger and Zoe vacationing next door. Torti is willing to remove sheep from the field when Roger and Zoe are there, but his marginal cost of doing so is $1 for the first sheep he removes, $2 for the second sheep, $3 for the third, etc. Roger and Zoe derive a (combined) marginal benefit of $12 for the first sheep Torti removes, $11 for the second sheep he removes, $10 for the third sheep he removes, etc. d. Calculate the range of prices per sheep that Roger and Zoe could pay Torti to achieve the efficient number. e. Calculate the efficient number of sheep in the field if there were a sound barrier and if Roger and Zoe stay at the cottage. f. Calculate the total benefit to Roger and Zoe if the sound barrier were there and the corresponding efficient number of sheep were in the field. g. Calculate the total cost to Torti if the sound barrier were there and the corresponding efficient number of sheep were in the field. h. Calculate the maximum amount Roger and Zoe would be willing to contribute to the construction of the sound barrier. i. Calculate the maximum amount Torti would be willing to contribute to the construction of the sound barrier

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!