5. Mickey and Minnie live in Anaheim. Mickeys net present value of lifetime earnings in Anaheim is $500,000, while Minnies is $150,000. The cost of moving to Orlando is $15,000 per person. In Orlando, Mickeys net present value of lifetime earnings would be $550,000, while Minnies would be $125,000.

a) If Mickey and Minnie choose where to live based on their joint well-being, will they stay in Anaheim or move to Orlando?

b) Which of the following is Mickey (circle): Tied-mover Tied-stayer Neither

c) Which of the following is Minnie (circle): Tied-mover Tied-stayer Neither

d) What is the maximum moving cost they would jointly be willing to pay to move to Orlando?