4. Cost-benefit analysis A local college is deciding whether to conduct a campus beautification initiative that would involve various projects, such as planting trees and remodeling buildings, to make the campus more aesthetically pleasing. and Thus, the visual appearance would For the students of the college, the visual appearance of the campus is he dassified as a public good Suppose the college administrators estimate that the beautification initiative will cost $4,400. To decide whether the initiative should be undertaken, administrators conduct a survey of the college's 300 students, asking each of them their willingness to pay for the beautification project. The average willingness to pay, as revealed by the survey, is $11 The benefit of the beautification initiative, as suggested by the survey, is 8 Because the estimated benefits than the cost, the college administrators undertake the beautification initiative The calculation of the benefit of the beautification initiative rolled on the ability or thu administrators to capture the true willingness to my of each student accurately Near Which of the following scenarios would cause the worwey woed by the college administrators to Vield misleading data on ihastar? that any Students belleve that the initiative de other things for the native will not be spent lower