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

question 50

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 cost of hiring a worker to the existing firms is __________ and to the new firms it is __________.

• A)$20,000;$19,500
• B)$20,000;$18,500
• C)$19,800;$19,500
• D)$20,000;$19,700

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Definitions:

\(d = 4\)

An equation representing that the value of the variable \(d\) is equal to 4.

\(a _ { 1 }\)

Often represents the first term in a sequence or series in mathematics, particularly in formulas involving arithmetic or geometric sequences.

\(a _ { k + 1 }\)

An element in a sequence, described as the next term (k+1) following the kth term.

\(a _ { 5 }\)

Typically denotes the fifth term in a sequence or series, depending on the context of its use.