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Unformatted text preview: bidder. Assuming villagers can both borrow and lend at 15 percent annual interest, how much will the right sell for at auction? How will the new owner use the right (how many llamas will graze on the commons), and what will be the resulting total village income? On my honor, as an Aggie, I have neither given nor received unauthorized aid on this assignment. Signature _____________________...
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This note was uploaded on 02/20/2012 for the course ECON 202 taught by Professor Brightwell during the Spring '08 term at Texas A&M.
- Spring '08