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Valuation Tool - Production Function Approach
The production function approach is applied to estimate the indirect use value of the environment. It consists of two steps: first, establish a relationship between the environmental input/service and the output, and second, estimate the monetary value of the environmental function.
For example, soil erosion upstream causes siltation in canals, which reduces the flow of irrigation water. As a result of decrease in water supply, there is a decline in crop production downstream. In order to measure the cost of soil erosion we estimate the crop loss due to siltation and find out its value m money terms, which can be considered as an estimate of the cost of soil erosion.
what are the costs and consequences of providing the subsidies and welfare?
This question considers the possibility of foreign aid in exchange for favors. Suppose nation A has RA resources in its treasury and nation B has RB resources. The winning coalitio
Case for Improving upon the Market System Unlike the "optimistic followers" of the "classical school" who believed that markets would "natural!yn or "automatically" prod
Q. Show the Redistribution Policy? We know that despite policy interventions the disparity of income has been increasing in nearly all the countries. United States is highly un
Q. Show the Traditional decision analysis? Traditional decision analysis rests on the key assumptions about the type of information available to the decision maker. Powerful B
Suppose the firm mark up over the cost is 10% and the wage setting equation is W=P (1-u) where U is the unemployment rate. a) Find out the real wage rate implied by the price se
Question 1: Briefly (three or four paragraphs) give reasons for your answer. (a) In studying the public sector, economists should use either positive or normative economics
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3 voters, A, B, and C, will decide by majority rule whether to pass bills on issues X and Y. Every of the two issues will be voted on indiviually. The change in net profits (in dol
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