Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Occupational Safety and Health Administration ( OSHA ) has determined that the probability of a worker dying from exposure to a hazardous chemical used

The Occupational Safety and Health Administration (OSHA) has determined that the probability of a worker dying from exposure to a hazardous chemical used in the production of fertilizer is 0.008. The cost of imposing a regulation that would ban the chemical is $32 million. If the value of a human life is equal to $10 million, how many people must the policy affect in order for the benefits to exceed the costs?
a.3201
b.256
c.4001
d.401

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Ecological Forest Management

Authors: Jerry F. Franklin, K. Norman Johnson, Debora L. Johnson

1st Edition

1478633506, 978-1478633501

More Books

Students also viewed these General Management questions

Question

analyze how research and writing unites with design.

Answered: 1 week ago