1. [6 pts] A contingent valuation study was recently done that asked the following question of a sample of residents of Washington D.C.:

Consider the following hypothetical scenario:

Suppose the government decided to increase national taxes to make Rocky Mountain National Park better.

How much would you be willing to pay in increased taxes to improve RMNP?"

You are asked to assess the design of the CV study. Describe at least three potential problems with the study design andsuggest how the study might be improved.