Tries remaining: 3 Marked out of 1.00 Flag question Suppose residents of the town of Beachville are concerned about shark attacks and are considering installing a shark warning system on its main beach. The sharks in the waters around Beachville are highly dangerous and an attack always results in the death of the victim. Here is some information you may or may not find useful to answer the questions below: • The shark warning system would decrease the chance of a shark attack from 0.05% to 0.01%. • The value of a human life is $10 million. • The value of a shark's life is $0.7 million. • The cost of the shark warning system is $6,000. The expected benefit of the shark warning system is $ Since the benefit is the cost, it is socially optimal for the shark warning system to → Question 5 Tries remaining: 3 Marked out of 1.00 Flag question Suppose residents of the town of Beachville are concerned about shark attacks and are considering installing a shark warning system on its main beach. The sharks in the waters around Beachville are highly dangerous and an attack always results in the death of the victim. Here is some information you may or may not find useful to answer the questions below: • The shark warning system would decrease the chance of a shark attack from 0.05% to 0.01%. • The value of a human life is $10 million. • The value of a shark's life is $0.7 million. • The cost of the shark warning system is $6,000. The expected benefit of the shark warning system is $ lower than the same as greater than Check Since the benefit is the cost, it is socially optimal for the shark warning system to Question 5 Tries remaining: 3 Marked out of 1.00 Flag question Suppose residents of the town of Beachville are concerned about shark attacks and are considering installing a shark warning system on its main beach. The sharks in the waters around Beachville are highly dangerous and an attack always results in the death of the victim. Here is some information you may or may not find useful to answer the questions below: • The shark warning system would decrease the chance of a shark attack from 0.05% to 0.01%. • The value of a human life is $10 million. • The value of a shark's life is $0.7 million. • The cost of the shark warning system is $6,000. The expected benefit of the shark warning system is $ not be provided be provided Check Since the benefit is the cost, it is socially optimal for the shark warning system to
