Why are injury and fatality rates endogenously determined in the hedonic framework?
A) The hedonic wage locus is responsive to changes in economic policy.
B) The hedonic wage locus is NOT responsive to changes in economic policy.
C) The hedonic wage locus describes all of the (w,z) pairs that are offered in equilibrium and workers are NOT free to pick any pair that lies along the hedonic locus because of their heterogeneous tolerances for risk.
D) The hedonic wage locus describes all of the (w,z) pairs that are offered in equilibrium and workers are free to pick any pair that lies along the hedonic locus.
E) The hedonic wage is independent of workers' tolerance for risk.
Correct Answer:
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