The National Environmental Protection Agency has established that 2.5% of the median household income is a reasonable amount to pay for safe drinking water. For a median household income of $45,000 per year, what would the health benefits have to be (in dollars per household per year) for the B/C ratio to be equal to 1.5?
The National Environmental Protection Agency has established that 2.5% of the median household income is a reasonable amount to pay for safe drinking water. For a median household income of $45,000 per year, what would the health benefits have to be (in dollars per household per year) for the B/C ratio to be equal to 1.5?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
The National Environmental Protection Agency
has established that 2.5% of the median household
income is a reasonable amount to pay for safe
drinking water. For a median household income of
$45,000 per year, what would the health benefits
have to be (in dollars per household per year) for
the B/C ratio to be equal to 1.5?
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