What is equilibrium wage differential btwn safe nd risky job

Reference no: EM13218306

Suppose there are 100 workers in the economy in which all workers must choose to work a risky or a safe job. Worker 1's reservation price for accepting the risky job is $1; worker 2's reservation price is $2, and so on. Because of technological reasons, there are only 10 risky jobs. (a) What is the equilibrium wage differential between safe and risky jobs? Which workers will be employed at the risky firm?

Reference no: EM13218306

Questions Cloud

Can information on number of workers employed on risk : Suppose a drop in the compensating wage differential between risky jobs and safe jobs has been observed. Two explanations have been put forward: Engineering advances have made it less costly to create a safe working environment.

Find the probability that the tenth phone installed : The probability that a person will install a black telephone in a residence is estimated to be 0.3. Find the probability that the tenth phone installed in a new subdivision is the fifth black phone.

What is the new equilibrium wage differential : Suppose now that an advertising campaign, paid for by the employers who offer risky jobs, stresses the excitement associated with "the thrill of injury," and this campaign changes the attitudes of the work force toward being employed in a risky jo..

Develop an approach using the ite-operator : In other words, your approach should be able to answer the question whether two BDDs are complements of each other, without using the complement operation.

What is equilibrium wage differential btwn safe nd risky job : Suppose there are 100 workers in the economy in which all workers must choose to work a risky or a safe job. Worker 1's reservation price for accepting the risky job is $1; worker 2's reservation price is $2, and so on. Because of technological re..

Brief theory on touch voltage : looking for a brief theory on touch voltage, step voltage and ground potential rise (GPR). Should include graphical representation and relevant equations to help in understanding.

Was there a legal duty on the part of the physician : A man reports to the emergency room complaining of shortness of breath, chest pain radiating down his arm, is diaphoretic and has a positive smoking history as well as a positive family history for cardiovascular disease.

What causes the current gain to decrease : What causes the current gain to decrease both in the case of a low collector current and at a high collector current?

Explain how action-oriented hrm departments differ : Using at least 200 words. Explain how action-oriented HRM departments differ from people-oriented HRM departments. Provide an example of each style.

User Account

All Pages