econ 2100 test 2 dinkar with complete verified solutions

econ 2100 test 2 dinkar with
complete verified solutions
hedonic price method - answer a good or service can be values for
characteristics it possesses


averting expenditure example - answer air purifier


the damage function method estimates all aspects of incremental benefits
(T/F) - answer False


damage function menthod - answer measures benefits based on a technical
relationship between an environmental containment and its observed
damages


averting expenditure method - answer uses changes in spending on goods
that are substitutes for environmental quality to measure willingness to pay


existance value example - answer if an individual derives utility from the
preservation of an endangered species


the market price of a house depends on several attributes including the
environmental quality around the house, so the environmental quality has a -
answer implicit price


Capital Cost - answer does not vary based on the amount of abatement


the incremental cost of a policy is the difference between the total social cost
after the policy and the total social cost before the policy (T/F) - answer true