Suppose that an individual has the utility function U = E0.25 + Y0.75 where E is some
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Suppose that an individual has the utility function U = E0.25 + Y0.75 where E is some index of environmental quality and Y is income. From an initial situation where E = 1 and Y = 100, calculate CS and ES for an increase in E to the level 2, and for a decrease in E to the level 0.5.
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Related Book For 
Natural Resource And Environmental Economics
ISBN: 9780321417534
4th Edition
Authors: Roger Perman, Yue Ma, Michael Common, David Maddison, James McGilvray
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