see below the following WTP schedule. 50 subjects are asked about their WTP for a...
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see below the following WTP schedule. 50 subjects are asked about their WTP for a health care treatment as the price of that treatment varies.
Bid (Price)
Yes
No
0
50
0
10
40
10
20
30
20
30
15
35
40
10
40
A.What is the median WTP?
B.What is the mean WTP?
C.How would you expect income to affect WTP?
see below the following WTP schedule. 50 subjects are asked about their WTP for a health care treatment as the price of that treatment varies.
Bid (Price) | Yes | No |
0
| 50 | 0 |
10 | 40 | 10 |
20 | 30 | 20 |
30 | 15 | 35 |
40 | 10 | 40 |
A.What is the median WTP?
B.What is the mean WTP?
C.How would you expect income to affect WTP?
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