EC238 Midterm: EC238_Midterm_F11_Sol.pdf
Document Summary
Read the instructions carefully before you start your exam. Write your answers for part a and part b in the booklet provided. Please record your name, student number and class section on the answer booklet and on the exam question paper. Hand in the exam question paper inside the answer booklet. Part b [30 marks] two problem solving questions. Answer the following three questions in the answer booklet. Suppose you are part of an economic analysis team charged with recommending a policy response to pesticide risks. Your team decides to use risk-benefit analysis as its risk management strategy. On the risk side of the analysis, your team reviews the following data from the risk assessment process. Interpret each of these quantitative findings about pesticide risk, by stating precisely what numerical value(s) mean or imply in each case. Pesticide z: a dose (d)-response (r) function modeled as r= 0 for all d
