Provide a detailed explanation of the concept of willingness

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Reference no: EM133456255

Questions

1. Provide a detailed explanation of the concept of willingness to pay by discussing revealed preference methods and the contingent valuation approach.

2. Explain the FOUR basic steps in benefit-cost analysis, which aspect of benefit-cost analysis would you consider to be the most controversial? Give reasons for your answer.

3. Standards appear to offer a method to take away the freedom of sources to pollute, replacing it with mandated changes in behaviour." Critically analyse the role of standards in controlling pollution in the environment.

Reference no: EM133456255

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