To determine the value of a bridge to members of a community, why is asking them directly not a reliable way of measuring the benefits and costs? Question 11 options: Those who stand to gain have an incentive to tell the truth. Answers to the survey questions relating to cost will always be downwardly biased. Those who stand to lose have an incentive to exaggerate their true costs. Not everyone asked will be using the bridge.

The benefit or cost being caused by a producer not received or incurred financially by the producer…

Answered: o determine the value of a bridge to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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To determine the value of a bridge to members of a community, why is asking them directly not a reliable way of measuring the benefits and costs?

Question 11 options:

	Those who stand to gain have an incentive to tell the truth.
	Answers to the survey questions relating to cost will always be downwardly biased.
	Those who stand to lose have an incentive to exaggerate their true costs.
	Not everyone asked will be using the bridge.

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