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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).
Ask qExplain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the com
the price of a laptop increases by 20% and there is a 40% drop in the quantity demanded
what is the energy of violet light with a frequency =7.50 x 10 to the 14 s-1
Profits University creates student credit hours (y) with two inputs: Professors' hours of work (x1) and TAs' hours of work (x2) according to the manufacture function: f(x1,x2)= 10x
What two developments are demanding new ways of looking at the economic world in the 21st century? What kinds of sustainability questions do they raise? Two developments that
how a firm will choose its optimal inputs, isocosts and isoquants explanation
You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so
average-marginal relationship
What is market failure?
The marginal rate of substitution (MRS) quantifies the quantity of one good a consumer will sacrifice to get more of the other good. – It is calculated by the slope of the indif
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