A cattle rancher and a wheat farmer own adjacent properties that may or may not
ID: 2495640 • Letter: A
Question
A cattle rancher and a wheat farmer own adjacent properties that may or may not be separated by a fence. The accompanying table identifies the annual profit received by each party in the event there is, or there is not, a fence. If there is no fence, one can be installed and maintained at an annual cost of $25,000.
If legal rights are assigned to the wheat farmer, so that the cattle rancher is liable for any damage caused by his cattle to the wheat crop, then the:
rancher will choose to compensate the farmer for damages.
rancher will be indifferent toward neither building the fence nor compensating the farmer for damages.
farmer will not allow the rancher to stay in business.
rancher will choose to close his ranch.
rancher will pay to build the fence.
A.rancher will choose to compensate the farmer for damages.
B.rancher will be indifferent toward neither building the fence nor compensating the farmer for damages.
C.
farmer will not allow the rancher to stay in business.
D.rancher will choose to close his ranch.
E.rancher will pay to build the fence.
Explanation / Answer
rancher will pay to build the fence.
E.rancher will pay to build the fence.
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