Pls help with below homework. Select the correct option and explain it in 10-15 sentences M LU-A chemical factory and a fishing club share a lake. Producing chemicals creates waterpollution that harms the fish. Initially the lake is owned by no one. Keeping in mind theCoase theorem, suppose transactions costs are low and the chemical factory is givenownership of the lake. Compared to the situation with no property rights, the quantity ofchemicals producedSelect one:O A. increases.O B. stays the same.OC. decreases only if the marginal external benefit decreases.O D. changes but the direction of the change is unknown.O E. decreases.

The Coases Theory is a legal and economic theory on property rights proposed by economist Ronald…

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Pls help with below homework. Select the correct option and explain it in 10-15 sentences

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Pls help with below homework. Select the correct option and explain it in 10-15 sentences

M LU-
A chemical factory and a fishing club share a lake. Producing chemicals creates water
pollution that harms the fish. Initially the lake is owned by no one. Keeping in mind the
Coase theorem, suppose transactions costs are low and the chemical factory is given
ownership of the lake. Compared to the situation with no property rights, the quantity of
chemicals produced
Select one:
O A. increases.
O B. stays the same.
OC. decreases only if the marginal external benefit decreases.
O D. changes but the direction of the change is unknown.
O E. decreases.

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