Keeping in mind the Coase theorem, in the figure above if the pesticide factories own the lake, how much pesticide is produced?

Federal support for road building into publicly owned commercial forests has caused

a. an increase in the supply of timber. b. an increase in the demand for timber. c. higher timber prices. d. a shortage of timber. e. All of the above.

If a consumer's budget line between meat and potatoes has a vertical axis intercept at 100 pounds of meat and a horizontal axis intercept at 100 pounds of potatoes

a. demand must be inelastic b. the consumer's budget must equal $100 c. both meat and potatoes must be priced at $1 per pound d. the price of a pound of meat must equal the price of a pound of potatoes e. the opportunity cost of meat in terms of potatoes cannot be determined