You perform a travel cost study that looks at the relationship between the cost of visiting a lake (including costs of travel, value of time spent not working & any entry fees), its water quality (measured by the concentration of fecal coliform bacteria) and the actual numbers of visitors. Circle the categories of values (willingness-to-pay) that this method can potentially uncover for individuals (there may be more than one).

a. Changes in recreational use value related to planned improvements in water quality

b. Reductions in consumer welfare from increasing the entrance fee

c. Benefits to homeowners that never use the lake but enjoy views of the lake and have increased property values due to their proximity to the lake

d. Changes in the non-use value of the lake as its perceived quality changes

 

Posted Date: 3/30/2013 5:21:22 AM | Location : United States

Ask an Expert

Related Discussions:- Circle the categories of values method , Assignment Help, Ask Question on Circle the categories of values method , Get Answer, Expert's Help, Circle the categories of values method Discussions

Write discussion on Circle the categories of values method
Your posts are moderated

Write your message here..

Related Questions

Provisions or estimated liabilities, Where the liabilities are identified b... Where the liabilities are identified but the amounts cannot be precisely found, we estimate the liability and give for it as a liability. A common illustration is income tax payabl

Estimating, how do you calculate estimating cost for the last of the year b... how do you calculate estimating cost for the last of the year based on activity during the first half of the year

Cost classification, what are importance of cost classification what are importance of cost classification

Compute the industry volume variance for each product, The next year's budg... The next year's budget for Benny, Inc., is given below: Product 1 & 2 Sales $945,000 & 688500 Variable costs 459,900 & 297,000 Fixed costs 300

Long - term capital loss, The Smiths have a long-term capital loss carryove... The Smiths have a long-term capital loss carryover of $10,000 from 2010. On May 9, 2007, David's uncle, Joe, gave him the family antique gun collection. Based on family records

External sources of funds, These sources of funds are resources increased f... These sources of funds are resources increased from outside the organization to augment funds availability for any of the utilizations to be discussed later. Generally, there are o

Bases of cost classification, Bases of Cost Classification These vario... Bases of Cost Classification These various bases of cost classification are summarized in the diagram underneath as: Here, we will usually refer to either of these ter

Supplies and prepaid expenses, Inventory, Supplies and Prepaid Expenses ... Inventory, Supplies and Prepaid Expenses You can well understand the requirements for carrying inventory. So as to  carry  on operations unhindered we require to have sufficien

Contingent liabilities, These should be distinguished from estimated liabil... These should be distinguished from estimated liabilities. Estimated liabilities are identified liabilities where the amount is uncertain. Contingent liabilities conversely are not

Absorption , how to absorp a stock how to absorp a stock