Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Suppose that a railroad runs beside a field in which commercial crops are grown. A steam ocomotive that spews hot cinders out of its

image text in transcribed
1. Suppose that a railroad runs beside a field in which commercial crops are grown. A steam ocomotive that spews hot cinders out of its smokestack powers the railroad. From time to time those cinders land on the crops nearest to the track and burn them to the ground. Assume that each year, the farmer whose crops are burned looses $3000 in profits and that the annual cost to the railroad of installing and maintaining a spark-arrester that would prevent any damage to crops is $1750. Does it matter to the efficient use of the farmer's land or to the efficient operation of the railroad whether the law protects the farmer from invasion by sparks or allows the railroad to emit sparks without liability? Why or why not? Explain your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Technology Ventures From Idea To Enterprise From Idea To Enterprise

Authors: Richard C Dorf, Byers

3rd Global Edition

9780071289214

More Books

Students also viewed these Economics questions

Question

What role does the board of directors serve?

Answered: 1 week ago