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Constructed Market Techniques
In many cases where environmental goods and services do not enter formal markets we construct a hypothetical market for the purpose of valuation of the environmental function. There are two methods under this category. That is:
U=4X+G where X is private spending and G is public spending. what is the marginal rate of substitution between public and private
eiplain why indifference curve are convex to the origin
Suppose there is certain social norm. Its enactment into statutory law lowers people's private cost of its enforcement because it creates the possibility that violation of norm wi
Deductibles and copayments are two common incentive tools in insurance. (a)Explain which informational problems each tool primarily addresses. (b) If only one had to be used, indic
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why is it important to consider the complex nature of health and health care when examining economic principles related to health care delivery?
One shortcoming of neoclassical welfare economics is that it does not take into account the institutional structure of collective decision making. To draw normative conclusions abo
A dam is proposed on a stretch of wild river, a river that is currently used for recreation. The dam will generate electricity. The dam will have a useful life of 50 years, after w
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