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Nataly [62]
1 year ago
6

Suppose that hedonic wage studies indicate a willingness to pay $50 per person for a reduction in the risk of a premature death

from an environmental hazard of 1/100,000. If the exposed population is four million people, what is the implied value of a statistical life?
Business
1 answer:
zmey [24]1 year ago
8 0

Answer:

  • The willingness to pay $50 to reduce the risk of premature death from an environmental hazard of 1/100,000.
  • The exposed population is 4 million.
  • The implied value of statistical life can be calculated as follows

Explanation:

<h3>vsl \:  =  \frac{change \: in \: willingless \: to \: pay \: }{change \: in \: risk}</h3><h3>\frac{50 \: dollar \:  \times 4 \: million}{1\div10000 \times 4 \: million \:  }</h3><h3>\frac{20 \: million \: }{40}</h3><h3>= $ 5,000,000</h3>

STAY SAFE, STAY HEALTHY AND BLESSED

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If Aneko typically purchases radio and television commercial time slots for local customers.  These commercials are examples of <u>measured </u>media.

<h3>What is Measured Media?</h3>

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Harris Co. is considering a 12-year project that is estimated to cost $900,000 and has no residual value. Harris seeks to earn a
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Answer:

annual income = $70,292.52

Explanation:

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in order to determine the net cash flows per year we can use the present value of an ordinary annuity:

PV = annual cash flow x annuity factor

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You have taken a job in industry and are facing your first ordering decision. As you prepare to place the order, you remember yo
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So even though the interest rate on the deposit is 5%, only 1 - 35% = 65% will be available for use.

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