What are the highest and lowest payments from the writer that the beekeeper- farmer team will accept...

Question

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.) Answer the same questions for the fifth day.

Robert · Accepted Answer

Answer: 
DAY 
MARGINAL 
PROFIT IN 
HONEY 
TOTAL 
PROFIT 
IN 
HONEY 
MARGINAL 
PROFIT IN 
APPLES 
TOTAL 
PROFIT 
IN 
APPLES 
PROFIT 
FROM 
HONEY + 
APPLES 
MARGINAL 
LOSS TO 
WRITER 
TOTAL LOSS 
TO WRITER 
HONEY + 
APPLE 
PROFITS LOSS 
WRITER'S 
LOSS 
1 $7.00  $7.00  $10.00  $10.00  $17.00  $1.00  $1.00  $16.00  
2 $5.00  $12.00  $9.00  $19.00  $31.00  $3.00  $4.00  $27.00  
3 $3.00  $15.00  $8.00  $27.00  $42.00  $5.00  $9.00  $33.00  
4 $1.00  $16.00  $7.00  $34.00  $50.00  $7.00  $16.00  $34.00  
5 ($1.00) $15.00  $6.00  $40.00  $55.00  $9.00  $25.00  $30.00  
6 ($3.00) $12.00  $5.00  $45.00  $57.00  $11.00  $36.00  $21.00  
7 ($5.00) $7.00  $4.00  $49.00  $56.00  $13.00  $49.00  $7.00  
8 ($7.00) $0.00  $3.00  $52.00  $52.

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...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment