A Large Farming Operation Which Uses a Potent Fertilizer Is

question 15

Multiple Choice

A large farming operation which uses a potent fertilizer is located up river from a trout farmer. If property rights of the river exist and transactions costs are low, the amount of pollution will be

• A) efficient only if the trout farmer owns the river.
• B) inefficient if the farming operation owns the river.
• C) efficient if either the farming operation or the trout farmer own the river.
• D) always inefficient.

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Definitions:

Inappropriate Decisions

Choices or judgments that are not suitable or proper in the context in which they are made, often leading to negative outcomes.

Participative Process

A decision-making approach that involves input and active participation from multiple stakeholders or team members.

Group Performance

The outcome or result of the combined efforts of a team or group working together towards a common goal.

Empowerment

The process of giving individuals or groups the authority, resources, and opportunity to make decisions and contribute to their own success and the success of their organization.