a realistic example. Suppose you see a job advertisement in a local newspaper offering employment to individuals who want to humanely capture rabid raccoons in Central Park. The offer states that hourly compensation is $95.77. Why would this job offer such a high wage? How is this scenario related to our topic of incentives?

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 13CTQ: Think back to a purchase that you made recently. How would you describe your thinking before you...
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2. Describe what is meant by incentives. How do people typically respond to incentives? Provide
a realistic example. Suppose you see a job advertisement in a local newspaper offering
employment to individuals who want to humanely capture rabid raccoons in Central Park. The
offer states that hourly compensation is $95.77. Why would this job offer such a high wage?
How is this scenario related to our topic of incentives?
Transcribed Image Text:2. Describe what is meant by incentives. How do people typically respond to incentives? Provide a realistic example. Suppose you see a job advertisement in a local newspaper offering employment to individuals who want to humanely capture rabid raccoons in Central Park. The offer states that hourly compensation is $95.77. Why would this job offer such a high wage? How is this scenario related to our topic of incentives?
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