There Are Two Types of Contingent Valuation Estimates That Are

question 14

Multiple Choice

There are two types of contingent valuation estimates that are practiced:

• A) valuing environmental amenities and valuing health outcomes.
• B) valuing protective regulation and valuing protective sanctions.
• C) valuing time preferences and estimating risk aversion.
• D) identifying respondent groups and estimating sampling procedures.

---

Definitions:

Demand And Supply Diagram

A graphical representation used in economics to show the relationship between the price of a good and the quantity demanded and supplied at that price.

Health Care Consumed

The total amount of health services and goods utilized by individuals or a population.

Copayment

The percentage of (say, health care) costs that an insured individual pays while the insurer pays the remainder.

Monopsony Power

A market situation in which there is only one buyer for a product or service, giving that buyer substantial control over market conditions.