What Is Contingent Valuation

question 30

Multiple Choice

What is contingent valuation?

• A)assigning a value to an intangible good based on the results of surveys
• B)assigning a value to an intangible good based on how much people will pay to obtain it
• C)assigning a value to an intangible good based on its historical price
• D)assigning a value to an intangible good based on its price in an ideal free market
• E)assigning a value to an intangible good based on what it would cost to provide a substitute for it

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Definitions:

Injunction

A judicial command mandating that a person or organization start or stop a particular activity.

Mitigate Damages

Refers to the legal principle requiring a party to reduce their losses following a breach of contract.

Equitable Remedy

Judicial relief granted based on principles of fairness, including actions like injunctions and specific performance, as opposed to monetary damages.

Breach of Contract

An act of failing to fulfill the duties agreed upon in a contract, leading to legal ramifications for the party in breach.