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

Question

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

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The Answer of 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

Consider the Following Scenario When Answering the Following Questions