The Occupational Safety and Health Administration (OSHA) has determined that 100 workers are exposed to a hazardous chemical used in the production of diet soft drinks. The cost of imposing a regulation that would ban the chemical is $10 million. OSHA has calculated that each person saved by this regulation has a value equal to $10 million. If the benefits are exactly equal to the costs, what
probability is OSHA using to assess the likelihood of a fatality from exposure to this chemical?
a. 0.001
b. 0.01
c. 0.1
d. 1.0
b
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Which of the following is a flow in the circular flow model?
A) the flow of profit and the flow of revenue B) the flow of income earned by firms and the flow of expenditures earned by households C) the flow of revenue received by firms and the flow of payments to resource owners D) the flow of goods and services from households to firms
Harry's HVAC refuses to sell diagnostic software and spare parts of its heating and cooling systems to third parties. Why would it want to do that?
a. To ensure that the customer knows that they are stuck with Harry's service technicians b. To ensure that only the highest paid personnel get to service the units c. To ensure that the customers do not buy second-class servicing and then infer faulty design if a unit breaks down due to inadequate service d. All of the above