16. The estimated incremental benefits (in thousands of dollars) associated with this new policy are A. 2,100 B. 44,100 C. 90,000 D. 45,900 17. The hedonic price method A. is a direct method of estimating benefit B. relies on the theory that goods are valued for their attributes C. is a physical linkage approach D. is useful but not intuitive 18. In practice, the hedonic price method A. is easy to use because attribute data are always readily available B. estimates the prices of the product's characteristics C. can be implemented with a simple empirical model D. has never been used by empirical economists A collaborative federal and state program has been proposed in response to acid rain damage in Newport Bay, Maryland. To estimate the incremental benefits of the program, you use the travel cost method based upon the following pre- and post-policy recreational demand functions: Pre-policy: P=62 -0.02V1 Post-policy: P = 80 -0.02Vz where Vis the number of visitors (in thousands) and P is the admission fee. Assume the admission fee is set at $20 per visitor. 19. Before the policy was put into effect, estimated consumer surplus (in thousands of dollars) was valued at A. 2,100 B. 44,100 C. 90,000. D. 45,900