Economics · Environmental Economics
The Total Economic Value (TEV) of an environmental resource is correctly expressed as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1TEV = Use Value only
- 2TEV = Direct Use Value + Indirect Use Value + Option Value + Existence Value✓
- 3TEV = Market Value + Consumer Surplus
- 4TEV = Willingness to Pay - Willingness to Accept
Correct answer
TEV = Direct Use Value + Indirect Use Value + Option Value + Existence Value
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