In Brief
When I attempt to browse my website, I get the following error message:
CS0016: Could not write to output file \'c:\
In case the above answers didn't fix it for you, check your environment variables (right-click on Computer -> Properties -> Advanced System Settings -> Advanced tab -> Environment Variables
Make sure the temp variables are pointing to a folder with all the necessary permissions. (full access for Network Service, IIS_IUSRS)
Note: don't check just the two variables at the top, look inside the scroll menu under System Variables. You might find the variables configured there too.