For each example $1$a$.$to $1$f$.,$ match the example to one or more of the following economic

consequences, listed as capital letters A to J$.$ Note, you can use choices A to J multiple times,

and for each example, there may be multiple matches $(6$ points$),$

a$.$ A negative externality $($for example, strong$/$offensive odor emanating from the manure

pit at a CAFO dairy farm$)$

i$.$ Matching letters: $\_\_\_\_\_\_\_\_\_\_$

b$.$ A positive externality $($for example, elevated carbon sequestration on pasture land

managed by a beef cattle rancher$)$

i$.$ Matching letters: $\_\_\_\_\_\_\_\_\_\_$

c$.$ High transaction costs $($for example, the ability to negotiate and receive payment for a

shipment of hay from Oregon to South Korea$)$

i$.$ Matching letters: $\_\_\_\_\_\_\_\_\_\_$

d$.$ High costs of exclusion but low rivalry in use $($for example, new high$-$yielding varieties

of open$-$pollinated wheat seed$)$

i$.$ Matching letters: $\_\_\_\_\_\_\_\_\_$

e$.$ Low costs of exclusion but high rivalry in use $($a truckload of fresh potatoes shipped from

Ontario, OR$).$

i$.$ Matching letters: $\_\_\_\_\_\_\_\_\_\_$

f$.$ High rivalry in use but ambiguous costs of exclusion because of poorly defined or

unenforced property rights $($harvesting morel mushrooms from U$.$S$.$ Forest Service and

other public lands$)$

i$.$ Matching letters: $\_\_\_\_\_\_\_\_\_\_$

A$.$ Marginal Social Costs $>$ Marginal Private Costs

B$.$ Marginal Social Benefits $<$ Marginal Private Costs

C$.$ A market $$win$-$win$$ opportunity may be lost

D$.$ Realized Equilibrium Quantity is lower than socially optimal Equilibrium Quantity

E$.$ Quantity Supplied and Quantity Demanded will tend towards equilibrium

F$.$ Free riders may exist

G$.$ Well$-$defined and easily enforced property rights

H$.$ Poorly defined and$/$or hard to enforce property rights exist

I. Over$-$provision of a market good

J$.$ Under$-$provision of a market good