In response to the coronavirus pandemic, people have bought masks and hand sanitizer to reduce their risk of contracting the coronavirus; exposure or infection risk reduction is then a non-market good. One could use data on the purchases of these goods and the ____ method of nonmarket valuation to measure peoples' willingness to pay to reduce their risk of exposure to the coronavirus.
Added by Kerri M.
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Step 1: Identify the non-market good being valued, which in this case is the reduction of exposure or infection risk to the coronavirus through the purchase of masks and hand sanitizer. Show more…
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