q explain about contingent valuationevaluation of, Microeconomics

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q explain about contingent valuationevaluation of

Q. Explain about Contingent valuation?

Evaluation of willingness to pay for a specified environmental resource or a change in the resource, through use of structured questionnaire in which respondents answer yes/no to suggested prices (dichotomous selection or payment ladder) or give a willingness to pay number themselves (open ended).

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