Multiple Choice
Suppose the cost to erect a tornado siren in a small town is $15,000. In addition, suppose the value of a human life is $10 million. By what percentage would the siren need to reduce the risk of a fatality for the benefits of the siren to exceed the costs of the siren?
A) By at least 0.015 percentage points.
B) By at least 0.15 percentage points.
C) By at least 1.5 percentage points.
D) By at least 5 percentage points.
Correct Answer:
Verified
Correct Answer:
Verified
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