For Use in Cost-Benefit Analysis,how Is the Value of a Human

question 9

Multiple Choice

For use in cost-benefit analysis,how is the value of a human life sometimes calculated

• A)on the basis of the risks that a person voluntarily exposes herself to in her job and in her daily activities
• B)on the basis of the value of each individual's assets
• C)on the basis of an infinite value for each life
• D)on the basis of the amount of resources required to adequately sustain life

---

Definitions:

Market Demand Curve

A graphical representation that shows the total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Marginal Benefit

The gain in utility or satisfaction derived from the additional consumption of a unit of a good or service.

Marginal Benefit

The enhanced benefit or happiness one achieves by using an extra unit of any good or service.

Purely Competitive

A market structure characterized by many small firms producing identical products, free entry and exit, and no single firm influencing the market price.