QUESTION 7 The wage-risk analysis is based on the notion that the wage premium is greater than the risk premium O that only young workers take on additional risk and require a wage premium the risk premium is always greater than the wage premium that to take additional risks, workers need to get paid extra QUESTION 8 The difference between risk and uncertainty is that uncertainty is can only assigned probabilities to the most likely outcomes risk has well-defined probabilities of each outcome uncertainty can assigned probabilities to each possible outcome O risk is the same as ignorance
QUESTION 7 The wage-risk analysis is based on the notion that the wage premium is greater than the risk premium O that only young workers take on additional risk and require a wage premium the risk premium is always greater than the wage premium that to take additional risks, workers need to get paid extra QUESTION 8 The difference between risk and uncertainty is that uncertainty is can only assigned probabilities to the most likely outcomes risk has well-defined probabilities of each outcome uncertainty can assigned probabilities to each possible outcome O risk is the same as ignorance
Chapter2: Mathematics For Microeconomics
Section: Chapter Questions
Problem 2.16P
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Answer both sir, I have no more question sir please answer both
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