Suppose that requiring motorcycle riders to wear helmets reduces the probability of a motorcycle fatality from 0.3 percent to 0.2 percent over the lifetime of a motorcycle rider and that the cost of lifetime supply of helmets is Rs5000. It is efficient for the government to require riders to wear helmets if human life is valued at ?
A. Rs 150 or more
B. Rs 500,000 or more
C. Rs50,000 or more
D. Rs500 or more
E. Rs100 or more
- A private good is ?
- A. rival but not excludable B. not rival but excludable C. both rival excludable D. neither rival nor excludable...
- A common resource is ?
- A. not rival but excludable B. both rival and excludable C. rival but not excludable D. neither rival nor excludable...
- Suppose each of 20 neighbours on street values street repairs at €3000 the cost of the street repair is €40,000 which of the following statements is true ?
- A. it is efficient for the government to tax the resident €2,000 each and repair the road B. It is efficient for each neighbour to pay €3,000 to repair the section of street in front of his/her home C. None of these answers are true D. it is not efficient to have the street repaired...
- A good produced by a natural monopoly is ?
- A. rival but not excludable B. neither rival nor excludable C. not rival but excludable D. both rival and excludable...
- Public goods are difficult for a private market to provide due to ?
- A. the rivalness problem B. the public goods problem C. the Tragedy of the Commons. D. The free-rider problem....