Answer to Question #316995 in Microeconomics for Nobuhle

Question

Name and describe 3 economic costs that a city can encounter when they have a Sinkhole?

Answer 1

Damage costs-damage costs from sinkholes include, destruction of highways and buildings and water quality problems.Surface waters may pour into the aquifer, our underground supply of drinking water, after a collapse.

Inspection costs-Ground-penetrating radar, electrical resistivity studies, and soil borings are some of the tests that may be used,and these tests come with expenses.

Repair costs-These are costs incurred when trying to revive the structures destroyed by sinkholes.Sinkholes that cause extensive damage and need a significant amount of work to repair may be much pricier.