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Welcome to the Q&A for ECN/APEC 2010, where you can ask questions and receive answers from your fellow students, the TA, and your professor.

Please only ask questions about the material for the course. Try to create discussions about the material we see in class, instead of just thinking of economics in general (this is an introduction to microeconomics class, not a policy or government class).

For questions and discussions about course organization or other course related topics, come see us after class or during office hours.

Feel free to discuss quiz questions on the Q&A, but do not provide direct answers to quiz questions before the quiz's due date.

practice quiz 15 question 13

–1 vote
10 views

Suppose that 100 million Americans are each given $100 and needs to decide whether to:

  1. Buy a pair of jeans, or
  2. Contribute $100 to a system protecting earth from collisions with asteroids.

(These are the only two options as far as spending these $100.)

The probability that an asteroid is deflected is equal to the proportion of these 100 million Americans who decide to give $100 toward asteroid protection.

Suppose that each of the 100 million Americans attaches a value of $1 to an increase of 1% in the chance of asteroid deflection.

Also suppose that each each of the 100 million Americans attaches a value of $100 to the pair of jeans they could buy instead of giving to asteroid protection.

Which of the following statements is true?

i am wondering why its "regardless of how many others given to asteroid protection."

asked May 1 by canvas-98fa74eec54bd (240 points)

1 Answer

0 votes
I think it says, "regardless" because no matter how much is given it won't make a big enough difference.
answered May 1 by canvas-daf8945daf79f (171 points)
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