Indicate whether the following statements are True or False. Support your answer with an explanation (one to two sentences) or a diagram. a. The county supervisor sends out a survey via U.S. mail asking residents how much they are each willing to pay toward a new community swimming pool. This is an example of revealed preference valuation. b. If the present discounted value of $400 next year is $380 this year, then the implied rate of interest is 5%.

Indicate whether the following statements are True or False. Support your answer with an explanation (one to two sentences) or a diagram. a. The county supervisor sends out a survey via U.S. mail asking residents how much they are each willing to pay toward a new community swimming pool. This is an example of revealed preference valuation. b. If the present discounted value of $400 next year is $380 this year, then the implied rate of interest is 5%.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter3: Preferences And Utility

Section: Chapter Questions

Problem 3.9P

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