Supplying water for irrigation of local agriculture

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Reference no: EM13977107

Consider the following scenario: A toxic waste dump in Alabama has seepage that leaks into the groundwater. Groundwater is used by local residents for drinking and cleaning, in addition to supplying water for irrigation of local agriculture.

Please answer the following questions in a short essay format.

What does the Coase Theorem say? What assumptions are required for it to hold? Discuss how it may or may not apply in the scenario described above.

Reference no: EM13977107

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