Homework Help: economis

Posted by anonymous on Wednesday, April 1, 2009 at 12:54pm.

There are 100 workers in the economy and all must choose to work either a risky or safe job. Worker 1's reservation price for accepting the risky job is $1, worker 2's reservation price is $2, and so on. There are only 10 risky jobs available. What is the equilibrium wage differential between safe and risky jobs.

economis - economyst, Wednesday, April 1, 2009 at 1:20pm
If the wage rate for non-risky is w, the wage rate for risky should be w+10.

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