Suppose That All Workers Value a 1% Reduction in the Workplace

question 114

Multiple Choice

Suppose that all workers value a 1% reduction in the workplace injury rate at $1,000.The cost of reducing the injury rate by 1% is $200 per worker.Firms currently pay $20,000 per year to workers,without any effort to improve safety.
Suppose new firms began to offer workers $19,500 and a 1% reduction in the injury rate.The total benefit to workers of the existing firms' offer is __________ and the benefit of the new firms' offer is __________.

• A)$20,000;$19,500
• B)$20,000;$20,500
• C)$19,800;$19,700
• D)$20,000;$20,000

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Definitions:

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