1. ECO 550 Week 6 Chapter Questions
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Economics - General Economics
Week 6 chapter 9 question 6
What are the highest and lowest payments from the writer that the beekeeper–
farmer team will accept for the sixth day? Assuming that the farmer can dispose of
$7 from the writer as she wishes, what range of payments will the beekeeper
accept? Assuming that the beekeeper gets that amount, what range of payments
will the farmer accept? (Remember that negative payments are also possible.)
Week 6 Chapter 9 Question 13
13. Some fields have large enough quantities of both oil and natural gas that
coordination must be achieved for the production of both, rather than oil alone as in
our examples. Will fields with both oil and gas have greater difficulties in unitization
than fields with oil or gas alone? Explain. (Hint: Look closely at Figure 9-2.)