The Lake Erie Wastewater Management Study is to develop a recommended management program for the Lake Erie Basin. A major part of this program is to be a management program for agricultural sources of pollution. This report is an economic analysis of alternative strategies for controlling nonpoint source pollution in the Honey Creek Watershed. This watershed is located in north central Ohio and is thought to be representative of much of north central and northwestern Ohio, major sources of nonpoint agricultural pollution in Lake Erie. Earlier studies have pointed to sediment and phosphorus loadings as being critical pollutants in Lake Erie. In addition, previous work has inventoried existing farm management practices and alternative farm management practices which reduce pollutant loadings. The intent of this study is to identify the relationships between farm income and the major pollutants, soil loss and phosphorus loss.