Describe ways in which economists estimate the economic values of natural goods and
Chapter 23, Problem 4(choose chapter or problem)
Describe ways in which economists estimate the economic values of natural goods and services. Why are such values not included in the market prices of goods and services? Define discount rate and discuss the controversy over how to assign such rates. Describe how economists can estimate the optimal levels for pollution control and resource use. Define cost-benefit analysis and discuss its advantages and limitations.
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