Question 1 4 pts A railroad passes through the wheat field. Sparks flying from trains cause an expected annual damage of $2,000 to the wheat. The railroad’s annual profit from operating is $1,000. The wheat farmers have an annual revenue of $3,500 and annual operating costs (not counting the fire damage) of $2,000. What will be the outcome if the railroad does not have to pay for the fire damage? What will be the outcome if the railroad is required to compensate the farmers for the fire damage?

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