The State of Wisconsin decides to take 50% of its state lottery money and use it

Question

The State of Wisconsin decides to take 50% of its state lottery money and use it to buy 1,000 acres of common grazing land in every Wisconsin county upon which any Wisconsin dairy farm may graze their cattle for free, no strings attached. Economists would expect that:
A) the common grazing land would be under-utilized and the grass would become overgrown.
B) the common grazing land would be over-used and would become barren wasteland with little or no grass left.
C) the cattle would catch the swine flu.
D) None of the above.

Explanation / Answer

D) None of the above.

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