1. Mike and Bob are both in the same enclosed hotel room.Mike assigns a $14 value to smoking his cigar.Bob values smoke-free air at $10.Which of the following scenarios is a successful example of the Coase theorem?

Group of answer choices

a. Bob offers Mike $15 not to smoke his cigar.

b. Mike offers Bob $9 so that Mike can smoke his cigar.

c. Mike offers Bob $5 so that Mike can smoke his cigar.

d. Bob offers Mike $13 not to smoke his cigar.

2...The ocean remains one of the largest unregulated resources. Which statement below is incorrect?

Group of answer choices

a. The oceans are so vast that enforcing any agreements would be difficult.

b. Regulations are easy to enforce.

c. Many countries have access to the ocean.

d. It is difficult to get international cooperation among countries that hold different values.

3..

_...... ....... ............. o........ _... .............. m... muuu.-..... "up"... may Cast (5) P1 0 (0M) If the price is P2. what will happen to prices in the long run? What will happen to the supply in the long run? 0 Prices will not change and supply will not change. 0 Prices will fall and supply will increase. 0 Prices will increase and supply will decrease. 0 Prices will fall and supply will decrease