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Suppose in another industry, a risky job pays $15,500 more than a safe job. Now, through regulations, all risky jobs in that industry have their
Suppose in another industry, a risky job pays $15,500 more than a safe job. Now, through regulations, all risky jobs in that industry have their risk decreased and now have the same risk as a safe job. Since all jobs are now safe in the industry, workers that used to have risky jobs must now also accept a $15,500 wage decrease. What describes the impact of this intervention on most workers of risky jobs
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