Question

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Question 10 (1 point} Travel cost is (select all that apply): Select 2 correct answer(s) C] a) An example of a revealed preference method of estimating value C] b) A method of inferring value of a recreation area based on how much visitors spend to get there C] C) Is an example of a stated preference method of estimating value C] d) All of the above are true

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Answer & Explanation
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There are two correct options a) and b). 

Step-by-step explanation

Travel cost is a method of evaluating the economic value of an area for recreation purposes and basically, it is used to find the economic value of a site or economic good. So option b) is correct. 

Since through travel cost, one can have an idea about how much visitors are willing to pay to visit that place hence it is a revealed preference. Because the travel cost shows the consumption behavior of visitors. Hence option a is also correct. 

 

So there are 2 correct options a) and b).