In Recent Years, the Number of Deaths Caused by Hurricanes

question 28

Short Answer

In recent years, the number of deaths caused by hurricanes has decreased, but the cost of hurricane damage has increased. How can this be explained?

---

Definitions:

Utility Schedule

A table showing the different levels of satisfaction or utility that a consumer derives from consuming different amounts of a good or service.

Worth

The value or importance of something, often measured in terms of money or utility.

Marginal Utility

The additional satisfaction or utility received by a consumer from consuming one more unit of a good or service.

Consumer Surplus

The divergence between the sum consumers are prepared and financially capable to pay for a good or service and the sum they actually disburse.