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Q. Explain about Contingent valuation?
Evaluation of willingness to pay for a specified environmental resource or a change in the resource, through use of structured questionnaire in which respondents answer yes/no to suggested prices (dichotomous selection or payment ladder) or give a willingness to pay number themselves (open ended).
Q. What is Tradeable product? Tradeable:A product (a service or good) is tradeable if its purchaser can purchase it far away from the place where it is produced. Most goods (ot
Discount Rate The term discount rate relates to business valuations. It is the rate applied to a future torrent of making an income or cash flow to measure its represen
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Your firms production function : Q=4K^1/2L^1/2 Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much
what are the merits and demerits of deductive inductive methods in economic analysis?
Volume of Trade: It relates to the size of international transactions. Since a large number of commodities enter in international transactions and their aggregate can be found
Economies of Scope The ability of a organization to decrease its unit costs by producing two or more products or services that involve complementary skills, experience and
There are two individuals in town, one is high risk and the other is low risk. 1 The probabilities of having an accident for the low risk individual and high risk individual are p
Explain about the perfect competition according to economics theory. The procedure of testing and refining theories is the key to the development of modern economics like a sci
Warehousing Facilities: These should be expanded in important commercial centres abroad, specially for fast-moving consumer goods. Nowadays, foreign buyers are reluctant to keep
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