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13 August, 17:37

The net benefit ratio (NBR) can be interpreted as the:

a. Percentage change in quantity demanded of food resulting from a 1% change in the price of crop's price.

b. Percentage change in quantity demanded of food resulting from a 1% change in the income of households.

c. Percentage change in welfare demanded of food resulting from a 1% change in the price of crop's price substitutes.

d. Percentage change in welfare resulting from a 1% change in the crop's price.

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  1. 13 August, 18:01
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    d. Percentage change in welfare resulting from a 1% change in the crop's price.

    Explanation:

    (Net benefit ratio is the ratio of benefits to costs. So, it can be interpreted as percentage change in welfare resulting from 1% change in crop's price)
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