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Matt is offered a job driving the campus shuttle bus from 4 p.m. to 6 p.m. each Monday. His reservation wage for this job is $7 per hour. Now suppose the director offers Matt $50 per hour, but also announces that the earnings from the job will be divided equally among Matt and four other students. Will Matt accept this job?
Merchant
An individual or business that sells goods or services to consumers.
Information
A set of data or details about a particular subject, often processed to be useful.
Understanding
The ability to comprehend or grasp the meaning, nature, or importance of something.
Highly-Valued
Something considered to be of great importance or worth.
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