Suppose that the equilibrium wage in industry A is $50,000. Industry B is the riskier with workers having a .05 greater chance of dying on the job; the wage in industry B is $60,000. assuming that the average remaining length of life is 25 years, with a discount rate of 3% the implied valuation of life is approximately:
a) $0
b) $0.7 million
c) $2.1 million
d) 3.5 million