Consider the Following Scenario When Answering the Following Questions

question 91

Multiple Choice

Consider the following scenario when answering the following questions:
Jones owns a factory that is dumping toxic waste into a river where Smith owns a resort.At present,Jones is not filtering the water that he dumps into the river.There is a filter he could install that would remove a significant amount of the toxic elements from the water before it is dumped in the river.Jones and Smith have each assessed the situation and come up with the following data:

-If property rights over the river are assigned to Smith,then

• A) Smith will force Jones to close the factory.
• B) Smith will pay Jones up to $75 per day to install the filter.
• C) Smith will pay Jones up to $125 to install the filter.
• D) Jones will install a filter and pay Smith at least $75 per day.
• E) Jones will install a filter.

---

Definitions:

Thai Temple Complexes

Architectural and religious complexes in Thailand, typically Buddhist, consisting of a collection of buildings such as stupas, viharas, and ordination halls.

Transitory Change

Temporary alterations in economic or financial variables that do not have lasting effects on the overall system.

Cost Of Living Adjustment

An increase in income or wages to counteract inflation, aimed at maintaining an individual's standard of living.

Education

The systematic process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through various means such as teaching, training, storytelling, discussion, and directed research.