Question: B. Two occupations are identical in every respect except for the probability of being involved in a fatal accident at work. Occupation X has an

B. Two occupations are identical in every respect except for the probability of being involved in a fatal accident at work. Occupation X has an annual fatality risk of .0030 and pays $65,000 per year and occupation Y has an annual fatality risk of .0029 and pays $64,450 per year. 1. What is the implied value of a statistical life. 2. If a job safety policy with an annual cost of $20.0 million would save tour statistical lives a year in in a much riskier occupation, would it be reasonable to conclude that it was worthwhile for that occupation? Why or why not

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