If mandating helmet use for motorcycle riders lowers the lifetime risk of fatality from 0.3% to 0.2%, and the total cost of helmets over a rider's lifetime is Rs 5000, at what minimum valuation of a human life would it be economically justified for the government to enforce helmet laws?

Explanation

The government should require helmets if the monetary value assigned to a human life exceeds the cost-effectiveness threshold. Since helmets reduce fatality risk by 0.1% (0.3% - 0.2%) at a cost of Rs 5000, the value of a statistical life must be at least Rs 500,000 for the mandate to be efficient.