Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Suppose you are the mayor of a town and you want to increase safety at an intersection. A traffic light will increase safety and reduce
Suppose you are the mayor of a town and you want to increase safety at an intersection. A traffic light will increase safety and reduce fatality risk by 0.5% but costs $100,000. Suppose the value of human life is estimated at $10 million. Should you spend the money to install the traffic light? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Yes, since the expected benefit ($500,000) exceeds the cost. b Yes, since the expected benefit ($150,000) exceeds the cost. c No, since the expected benefit ($50,000) is lower than the cost. d No, since the expected benefit ($15,000) is lower than the cost.Why are rhinos almost extinct but chickens are not? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Chickens are an important source of money while rhinos have no economic value. b Consumer demand is high for many different foods made from chicken c Many chickens are free in the wild but most rhinos are in zoos. d Farmers own chickens, but no one owns rhinos
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started