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1.Explain why the relationship between price elasticity and the incidence of taxation is important for a local authority/government to understand, specifically, in terms of policy implementation which will involve taxation.

2. What is the difference between a basic "cost-benefit analysis" and a "cost-effectiveness analysis". Explain a potential scenario where a cost-effectiveness analysis should be used instead of a cost benefit analysis.

3.Briefly describe the difference between "willingness to pay" and "willingness to accept" in relation to the demand for environmental goods. Explain how the difference between these two measures can create challenges when using a stated preference approach for valuing environmental goods or bad.

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Yusra Anees
Yusra AneesLv10
28 Sep 2019

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