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Burger King (BK) recently hired Riley as a restaurant manager. Riley can exert either low effort (a = 0) or high effort (a = 1).

Burger King (BK) recently hired Riley as a restaurant manager. Riley can exert either low effort (a = 0) or high effort (a = 1). The revenue of the restaurant depends not only on Riley's effort, but also on the state of the economy, in the following way

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