1.Suppose there is a new factory which causes pollution to anearby park, which is located in a residential area. One of the main reasons people live in this neighborhood is enjoying picnics and walks in this park. If the local municipality is considering imposing regulations to reduce pollution in this park, it will want to estimate its value for people:

a.What method of non-market valuation is appropriate? Why?

b.What information need to be collected?

c.What are the advantages and disadvantages of this method?