Multiple Choice
Erik can work as a forest ranger, where the probability of being killed in a work-related accident is 1/6,000, or he can earn an additional $800 a year by working as a game warden, where the probability of being killed in a work-related accident is 3/6,000. Using the compensating differential approach and the above information, what is the value of Erik's life?
A) $1.6 million
B) $2.4 million
C) $3.2 million
D) $4.8 million
Correct Answer:
Verified
Correct Answer:
Verified
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