00:01
Hello, here we have the answers to the given question.
00:02
Let's start the discussion.
00:04
In this case, we deal with the utility adjusted wage, utility adjusted wage.
00:18
So, that will deal with different scenarios.
00:22
First, it's a case of indifference.
00:26
Indifference means you are not able to find the indifferences that exist between different variables, different context.
00:36
So, in the times of indifference, it would be w w times 1 plus t.
00:45
So, this is what shows the wage case.
00:50
Secondly, we deal with the context where you hire only white workers.
00:59
When you hire only white workers, it has got its implications on wage as well...