The cost of repositioning an automobile gas tank for greater safety is $11 per vehicle for 12.5 million vehicles. It is expected that 180 deaths will occur if the gas tank location is not redesigned. If a human life can be valued at $500,000, the expected benefit of redesigning the location of the gas tank is:
A) $90,000,000.
B) $900,000,000.
C) $5,500,000.
D) $550,000,000.
Correct Answer:
Verified
Q50: The U.S. government does not allow toggle
Q51: A person will pay $1,000 (and not
Q52: The cost of repositioning an automobile gas
Q53: If a person would buy equipment with
Q54: The cost/benefit approach that economists agree on
Q56: Assume that running in a marathon increases
Q57: Suppose a radar-activated braking system that can
Q58: Direct shipment of wine to individuals is
Q59: A government airline safety regulation reduces the
Q60: Basing decisions on marginal cost and marginal
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents