The Ogallala aquifer is a large underground pool of fresh water under several western states in the United States. Any farmer with land above the aquifer can at present pump water out of it. Which of the following statements about the aquifer is correct?
a. The aquifer is a public good which must be publicly owned to be used efficiently.
b. The aquifer is a private good which must be privately owned to be used efficiently.
c. The aquifer is a common resource which will be overused if no one owns it.
d. The aquifer is a club good which should be left as it is.
c
Economics
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A totally pollution-free environment is an economically sound social goal.
Answer the following statement true (T) or false (F)
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