1a) Magnus enjoys eating nuts and berries. He has a utility function U(c1,c2)=c2a^−c1, where 01b) Suppose Magnus becomes a world champion and his income increases to 34. Draw his new budget line. How many units of nuts and berries will he choose?
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Economy
Secondary School
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Suppose the market for discrete job risk consists of multiple heterogeneous workers and multiple heterogeneous firms. Worker's compensated risk premia Z are distributed according to the uniform distribution 2016. The productivity cost of reducing the job risk for the firm Mer is distributed according to the uniform distribution NC 26 | 1 What is the equilibrium market compensation and the share of risky jobs in this market? 2. Suppose that the government decides to subsidize the cost of reducing job risk decreasing the cost by s = 2 for all firms. What is the new equilibrium market compensation for the job risk and the share of risky jobs in the economy? Provide the intuition for this change.