Alex and Belle Are Both Loggers Wanting to Harvest Timber

Multiple Choice

Alex and Belle are both loggers wanting to harvest timber from the same forest. Alex prefers to harvest and replant at a sustainable rate; Belle wants to harvest as many trees as possible to maximize short-run profit and then move on. They face the same production costs. The forest is more likely to be harvested and replanted at a sustainable rate if

A) property rights are well defined and enforced.
B) property rights are weak or nonexistent.
C) there is no government protection of property rights and the parties can negotiate a settlement.
D) Belle is given sole ownership of the property.