Read the following statements. In response, state ‘True’, ‘False’ or ‘Uncertain’ and explain why:

(a) To describe an environmental asset as ‘priceless’ does not mean that it has an infinite value.

(b) Economists do not attempt to measure the value of the environment. What they attempt to measure are the preferences of people for an environmental good or environmental bad.

(c) The estimation of the benefits of environmental assets would be unaffected by whether the method used to measure benefit is based on willingness-to-pay (WTP) or willingness-to-accept (WTA).