Mention some of the remedies to prevent violation of a low-cost contract between farmers and beekeepers
One of the remedies to prevent violation of a low-cost contract is a payment by the farmer or an order that the beekeeper release the bees for another day. A merger that puts the bees and the trees under a single owner and a common management can also prevent a breach of contract.
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Answer the following statement(s) true (T) or false (F)
1. When using a damage function, incremental benefits are measured as a vertical distance of total damages (TD) associated with a decrease in some contaminant (C). 2. The averting expenditure approach is favored by researchers because it can capture both existence and user value. 3. The contingent valuation method is so called because it is contingent upon the hypothetical market that serves as the context for the survey. 4. The benefit estimation method that relies on goods that are complements to environmental quality is the averting expenditure method. 5. A known problem associated with the averting expenditure method is jointness of production, which refers togoods that provide services beyond those that improve the environment.
The process by which inputs are transformed to outputs is referred to as:
A) production. B) distribution. C) depreciation. D) absorption.
The unemployment rate tends to be higher in the European Union as compared to the United States
Indicate whether the statement is true or false
If the absolute price elasticity of demand for a product is greater than 1, then
A) consumers are relatively insensitive to price changes. B) consumers are relatively sensitive to price changes. C) there is a positive relationship between price changes and total revenue. D) producers are relatively insensitive to price changes.