ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Lachlan has a Jacaranda growing in his yard. One of the tree limbs is growing over into Dan's property. Dan does not like this and wants Lachlan to
chop down the tree. Their respective benefits are shown below:
Gains to Lachlan (S)
Gains to Dan ($)
Total ($)
Keeping Tree
1000
100
1100
Chopping Down Tree
500
839
What is the amount that Dan would have to pay Lachlan so that each received half of the total extra gains from chopping down the tree? Answer to
the nearest whole number in dollars (with no decimal places, $ sign, spaces or commas).
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Transcribed Image Text:Lachlan has a Jacaranda growing in his yard. One of the tree limbs is growing over into Dan's property. Dan does not like this and wants Lachlan to chop down the tree. Their respective benefits are shown below: Gains to Lachlan (S) Gains to Dan ($) Total ($) Keeping Tree 1000 100 1100 Chopping Down Tree 500 839 What is the amount that Dan would have to pay Lachlan so that each received half of the total extra gains from chopping down the tree? Answer to the nearest whole number in dollars (with no decimal places, $ sign, spaces or commas).
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