Question

An estimate of the money and paperwork spent complying with environmental regulations could be compared to...

An estimate of the money and paperwork spent complying with environmental regulations could be compared to the advantages of cleaning up pollution.

This method of determining the value of the environment is known as __________.

  • healthcare costs

  • hedonic pricing

  • contingent valuation

  • cost-benefit analysis

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Answer #1

The contingent valuation method (CVM) is a widely used method for estimating economic values for all kinds of ecosystem services and environmental goods which are not traded in the market and hence have no market price. CVM is typically used to estimate the benefits (or costs) of a change in the level of provision (or in the level of quality) of a public good. Contingent valuation, a survey-based method of determining the economic value of a nonmarket resource. It is used to estimate the value of resources and goods not typically traded in economic markets. It is most commonly related to natural and environmental resources.

Hence (C) part is a correct answer

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