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The following table lists the name, gender, and height and reservation wage of 10 persons willing to work as fire fighters in Timber Creek. What is the lowest wage that Timber Creek must pay to hire five fire fighters? You answered the question $380/week (2m,3f), but how did you come up with the answer? Please explain. I have a similar problem to solve with different reservation wage amounts.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91237732

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