If a Person Would Buy Equipment with Safety Features That

question 101

Multiple Choice

If a person would buy equipment with safety features that cost $100 extra and those features reduce the chance of having a fatal accident by 1/500, the person is implicitly valuing his or her life at a minimum of:

• A) $5.
• B) $5,000.
• C) $50,000.
• D) $500,000.

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Definitions:

Past History

Past history is a record or account of events, actions, or conditions that happened in the past.

Overt Behavior

Observable actions or responses of an individual, which can be directly seen and measured by others.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.

Freudian Psychoanalysis

A psychological theory and therapy method developed by Sigmund Freud that emphasizes unconscious motivations and conflicts as determinants of human behavior.