Q471. This is one of a series of problems (469, 470, 472, 473, 474, 475, 476, 477, 478) relating to the same fictional case: The community of Ourville which is considering some options for creating parks to enhance the quality of life of local residents. The amounts are expressed in simple numbers – e.g., $100 – which you can assume to be referring to realistic amounts – e.g., hundreds of thousands.

In your reports you mention Pareto and Kaldor-Hicks criteria. Your supervisor says you can't just refer to these – you need to explain (BRIEFLY) what they mean in everyday terms:


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