An engineering company in Wyoming that owns 50 hectares of valuable land has decided to lease the mineral rights to a mining company. The primary objective is to obtain long-term income to finance ongoing projects 6 and 16 years from the present time. The engineering company makes a proposal to the mining company that it pay $10,000 per year for 20 years beginning 1 year from now, plus $5,000 six years from now and $7,500 sixteen years from now. If the mining company wants to pay off its lease immediately, how much should it pay now if the investment is to make 16% per year

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.