1 answer

4. Provide an argument against using cost-benefit analysis as the only way of making social decisions

5. Briefly explain either the travel-cost method or the hedonic price method for nonmarket valuation.

9. Suppose the costs of a wetlands restoration program are expected to equal $200 in the first year of the program (year 0), $100 in the second year of the program (year 1), and $25 per year for the next 2 years after. Benefits will be $50 for the first year (year 0), $75 for the second year, and then $200 per year for the two years after that. At a discount rate of 0, what is the total value of net benefits for this program?

16. Refer to the scenario from Question 14. Now suppose we want to allocate the resource over two periods. If 24 units of the resource are to be allocated between the periods, in a dynamic efficient allocation how much would be allocated to the first period, and how much to the second period, when the discount rate is zero?

13. What are use-values, and how do they differ from nonuse values? Discuss some of the aspects and implications of including nonuse values in cost-benefit analyses for environmental policies.

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Please answer correctly thank you 53) The major significance of Robert Koch's work is that A)...

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