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Economics

A researcher estimates the following wage equation for underwater construction workers: A researcher estimates the following wage equation for underwater construction workers: i = 10 +.5D,...-1i = 10 +.5D, whereA researcher estimates the following wage equation for underwater construction workers: i = 10 +.5D,...-2 = the wage in dollars per hour and A researcher estimates the following wage equation for underwater construction workers: i = 10 +.5D,...-3= the depth underwater at which workers work, in meters. Based on this information, draw the offer curve and possible indifference curves for workers A and B: A works at a depth of 3 meters, and B works at 5 meters. At their current wages and depths, what is the trade-off (keeping utility constant) between hourly wages and a 1-meter change in depth that each worker is willing to make? Which worker has a greater willingness to pay for reduced depth at 3 meters of depth?

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