Suppose a project needs to hire 50 electricians. At the initial wage of 60K/year (including benefits) 480 are currently employed in the local area and 20 are estimated to be unemployed. The MEBT (marginal excess tax burden ) is 0.2. After electricians are hired for the project, the local wage increases to 65K/year and the number employed locally increases to 510. 1)Estimate the opportunity cost of hiring the workers.

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