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EEP+162+2007+Final+InClass+Exam_revised

EEP+162+2007+Final+InClass+Exam_revised - GEO 401...

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EEP 162 FINAL EXAM – 17 MAY 2007 Take time to think about your answer before you begin writing. Points will be awarded both on the content of your answers and in your ability to be concise in your questions. When appropriate, please show relevant calculations. You might find it helpful to use graphs in some of your answers. Be sure that the graphs are clearly labeled and explained. If a question is unclear, ask Damian for clarification. Write your name and SID on this exam and hand this in with your work. 65 points total—about 3 minutes per point 1. (20 points) Consider an orange farmer in California’s Kings River area and a cotton farmer in Westlands Water District. The orange farmer began diverting water through a canal from the Kings River in 1860, while the cotton farmer did not build his diversion works until 1930. The orange farmer has been beneficially using 63 acre-feet on his farm, while the cotton farmer has been using 20 acre-feet. Therefore, each has a well-established appropriative right to 63 and 20 acre-feet, respectively. Suppose the orange farmer’s demand curve for water is 1 90 3 O Q P = - And the cotton farmer’s demand is 280 2 C Q P = - Q is measured in acre-feet, P in dollars per acre-foot.
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