If a homeowner uses wood to heat his house,

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If a homeowner uses wood to heat his house,
◦ he may generate an external cost if the smoke bothers his neighbours.
◦ the price of the wood represents an external cost to the homeowner.
◦ he may generate an external benefit if the smoke bothers his neighbours.
◦ the price of the wood represents an external cost to the homeowner, unless he harvests the wood himself.
◦ he may generate an external benefit if the price of heating oil goes down in his region.

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Great answer, keep it coming

[aruss1303]

YES! Correct, THANKS for helping me on my review