Microeconomics Question from Walter E. Williams:Edit

"Human Life is Priceless. Analyze


False. First this is a normative statement and we deal only with positive statements in economics. However, human life is “valued” in many different ways. Insurance firms value human life by charging a specified premium based on health and behavior. Individuals value their life by the amount of life insurance they purchase, by the way they choose to drive their cars and use/not use the safety features such as seat belts, and by the risks they choose to accept (flying, skydiving, scuba diving, etc).

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