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. we might expect thata over time, the aquifer is likely to be overused. b each farmer has a sufficient incentive to conserve the water. c state governments have an incentive to insure that their farmers do not overuse the water. d resources would be used more efficiently if the government paid for the pumps farmers use to get the water.

Stormie zanzibar owns a bakery in the fictitious country of olombia. each month the government’s market ministry mails her a large list of the regulated price of goods which include products like bread, muffins and flat bread. the list also dictates the types of goods she can sell at the bakery and what she is to charge. because of the regulations placed on these goods, stormie has increased her production of sweets, pies, cakes, croissants and buns and decreased her supply of breads, muffins and flat bread. she has taken these steps because the sweet goods’ prices are not government controlled. stormie zanzibar lives under what type of economy?