Suppose that the equilibrium wage in industry A is $47,000. Industry B is riskier with workers having

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Suppose that the equilibrium wage in industry A is $47,000. Industry B is riskier with workers having a 10% greater chance of dying on the job; the wage in industry B is $61,000. What is the implied valuation of a life year?

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Microeconomics

ISBN: 978-1292079578

Global Edition 1st Edition

Authors: David Laibson, John List

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Posted Date: Feb 23, 2024 02:50 AM

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Suppose that the equilibrium wage in industry A is $47,000. Industry B is riskier with workers having

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Calculate the wage difference Wage in industry B Wage in industry A 61000 47000 14000 ... View the full answer

Microeconomics

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