Economic Analysis of Social Issues 1st Edition by Alan Grant

Exercise 18

Suppose that a chemist detects trace amounts of insecticide in food from your student union. Which statement below best captures what an economist might say about this?
A) "Goodness! We must find a way to remove all the insecticide!"
B) "Greedy people-always willing to sacrifice students in pursuit of the bottom line."
C) "We could clean up the food, but it might be very costly and bring very little benefit."
D) "If it will save a human life, we should spend the resources necessary to clean up the food."