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b) d) How much is the highest total monetarized benefit that the point you have identified in Part 3 brings about for the economy? (1

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b) d) How much is the highest total monetarized benefit that the point you have identified in Part "3" brings about for the economy? (1 pt) Now, suppose that the average value of a human life is just $500,000 and the value of a saved job is equal to $120,000. Now using this context, find the best combination of YL and Y] among the 5 points shown on the curve and report your results below and make sure to put the units of each of the optimal values of YL and Y1. That is, which of the five points brings about the highest total monetarized benefit for the economy among the five points under study if we take these new values of lives and jobs as described above? (3 pts) How much is the highest total monetarized benefit that the point you have identified in Part "c" brings about for the economy? Compute this highest total monetarized benefit that this rational decision to be made by the government can bring about for the societyleconomy as a whole and report it below. (2 pts) In your opinion, how can the government/society make the schedule of the trade-off (Le. the possibilities frontier) shift outward and to the right and up, enabling the economy/society to achieve a higher combination of both lives saved and jobs saved simultaneously? What actionsfpolicies need to be takenfimplemented? (1 pt) In your opinion, how can this life-economy trade-off be eliminated entirely? What do we need to achieve this end? (1 pt)

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