Homework Answers
1.
Total salary offered = $105,000
Total cost incurred to get CPA certification = Foregone wages + Cost of certification
Total cost incurred to get CPA certification = 70,000 + 23,000
Total cost incurred to get CPA certification = 93,000
Since salary > cost, the bad worker will get the certification and apply for job
2.
Total salary offered = $105,000
Total cost incurred to get CPA certification = Foregone wages + Cost of certification
Total cost incurred to get CPA certification = 70,000 + 15,000
Total cost incurred to get CPA certification = 85,000
Since salary > cost, the good worker will get the certification and apply for job
3.
Total salary offered = $105,000
Total cost incurred to get CPA certification = Foregone wages + Cost of certification
Total cost incurred to get CPA certification = 83,000 + 23,000
Total cost incurred to get CPA certification = 106,000
Since salary < cost, the bad worker will not get the certification and will thus not apply for job
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