Repeat Worked-Out Problem 21.2 with the following assumptions: the value of a high-ability worker's marginal product is $30 per hour and the value of a low-ability worker's marginal product is $20 per hour. For high-ability workers, preferences correspond to the utility function
UH (E, W) = W / 1+E/4
For low-ability workers, preferences correspond to the utility functionUL (E, W) = W/1+E/2
Everyone is required to attend at least 10 years of school by law, and 70 percent of the population has low ability (the rest have high ability).