Homework Answers
Answer 2 : The given options are evaluated as follows :
- Willingness to pay , a qualitative concept , involves complex real time methods , in order to calculate it and hence, this option is the correct answer .
- Even if the time is valuable , cost of the time booked for an activity can always be measured with reasonable calculations and hence, this option is rejected.
- Willingness to pay for an artist’s time would depend on her availability and the price she charges and hence, it can be measured using reasonable calculations .So, this option is also rejected.
- Factually incorrect statement and hence, this option is rejected .
Conclusion : “ Ist option “denotes the correct answer .
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