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Comprehension Check Problem 1
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You got the correct answer!
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You got the wrong answer!
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Revenue from each Worker
| Ann |
Bob |
| 55 |
37 |
Minimum Willingness to Accept
| Ann |
Bob |
| 8 |
20 |
- Since 15 is higher than Ann's minimum willingness to accept, Ann accepts this wage.
- Since 15 is lower than Bob's minimum willingness to accept, Bob rejects this wage.
- Thus, if the worker was Ann, your revenue is 55-15=40 and if the worker was Bob, your revenue is 0.
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