There are 100 jobs in a town and 100 workers. 20 of the jobs are dangerous, 80 are safe. Workers have the following preferences: worker one dislikes danger by $1, worker two dislikes danger by $2, worker three dislikes danger by $3, and so forth (such that worker hundred dislikes danger by S100). Assume workers are mobile and well-informed and the labor market is mobile and perfectly competitive. Also assume that safe jobs pay $300 a week.
a. How much will dangerous jobs pay per week?
b. How much will worker one receive in economic rent per week?
c. How much will hundred receive in economic rent per week?
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There are 100 jobs in a town and 100 workers. 20 of the jobs are dangerous, 80 are safe. Workers hav...
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