Are expenditures ever a good measure of the gains to an individual from purchasing a good? First,

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Are expenditures ever a good measure of the gains to an individual from purchasing a good? First, try to think of a case where expenditures exactly measure total willingness to pay. Secondly, if total expenditures equal total willingness to pay, what is the consumer surplus for the good? Do expenditures measure benefits?
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The Economics Of The Environment

ISBN: 9780321321664

1st Edition

Authors: Peter Berck, Gloria Helfand

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