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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?
Comprehension and understanding - Critical thinking and analysis and understanding of the Law of Torts
q1. show how each of the following would initially affect a banks assets and liabilities.a. someone makes a 10000
Given the figures provided, calculate the GDP for the country, using the Expenditure Approach ONLY. Show your work. National income = 1,000, personal consumption = 3,000, net private domestic investment = 1,500, government purchases = 2,000, exports ..
Lifecycle models base on the assumption that households want to maximize their consumption and at the same time insure themselves against income shocks. Are there other arguments that can reconcile the empirical observation of consumption dispersion ..
Start by drawing the Short-Run Aggregate Supply and Aggregate Demand diagram with short-run equilibrium at Price Level = 165 and real GDP = 2750. Next, the following shock hits the economy: Concerned about an economic slowdown possibly turning into a..
Determine the price elasticity of demand at each quantity demanded using the arc or midpoint formula.
Elucidate what could be done to encourage people to spend more so as to increase aggregate demand and invariably, create employment possibilities.
XBC Inc. is planning to buy a new car. Model A costs $22,000 and is expected to have a life of 4 years. Model B costs $35,000 but it is expected to last 6 years. The salvage value is expected to be 10% of original cost for either model. Using annual ..
Use the characteristics/features of the different market structure to determine which market structure to classify your chosen firm.
What is being held constant when a demand curve for a specific product (shoes or apples, for example) is constructed? Explain why the demand curve for a product slopes downward to the right.
Assume that the demand for ethanol, a corn-based alternative fuel, decreases. As a result, ethanol producers petition the Environmental Protection Agency (EPA) to raise the allowable amount of ethanol in gasoline blends from 10 percent to 15 percent...
students are required to write an essay on a significant recent economic event or activity.discuss an economic activity
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