The Northwest Territories regularly has the highest average income in Canada. However, it has a punishing climate with 24 hour sunlight in the summer and an average high temperature of -18 C in January. Oppositely, areas on Vancouver Island are known for moderate temperatures with an average high in Nanaimo of 6 C in January and lower incomes. Using indifference curves and isoprofit curves model the market envelope for average high temperature and incomes and consumer choices.

The Northwest Territories has the highest median personal income in Canada, with that income concentrated in its largest communities, and among its non-Indigenous residents, according to data provided by the N.W.T. Bureau of Statistics.

The bureau released new data from the 2016 census in three reports on Thursday.

It found that the N.W.T. has a median personal income of $50,618 compared to a national average of $30,359. The territory also had the highest median personal income in the 2006 census.

Median income is the measure of the half way point between the highest and lowest incomes in the territory.

The numbers are broken down further by community, and into household income instead of personal income. Norman Wells has the highest median household income at $154,624. Yellowknife is second with $142,616. The lowest median household income reported is in Wrigley at $42,368. Statistics on the territory's smallest communities like Nahanni Butte, population 153, were not published.

Out of the 27 communities with data, 13 fell below the Canadian average for household income of $70,336

A chart showing the household income in the Northwest territories by community. Some of the smaller communities are not represented on the chart. (N.W.T. Bureau of Statistics)

As for who is making the money, the median income for non-Indigenous people in the territory is more than twice that of the Indigenous population. And within the Indigenous population, Métis make the most money on average — $56,502 — or about twice the median income as Inuit living in the Northwest Territories ($25,743).

Our winters may be cold but the right coat and mittens will always keep you warm. You will fall in love with our warm summers and the long hours of daylight. In any season, there are always fun activities to partake in. To name a few examples, in the winter you can enjoy dog sledding, skiing or ice fishing and in the summer there is camping, hiking or canoeing. The NWT has endless opportunities for adventure and fun! The NWTs offers first-rate healthcare services, a strong education system and an abundance of recreational opportunities and events to enjoy. Moving to the NWT offers great opportunities to grow and advance your career. The NWT offers excellent employment prospects and boasts the highest median household income in Canada. Its capital, Yellowknife, also boasts the highest rate of employment in the country. The Northwest Territories is a place where newcomers can expect to receive a friendly welcome while continuing to embrace their own traditions and practices. As a result there are many thriving cultural communities here. This document was designed to introduce you to the NWT and what it's like to live here. It was also created as a guide to help you settle into your new home in the NWT.

The NWT experiences a large range of temperatures between summer and winter. Most regions have a sub-arctic climate which means short, warm summers followed by quickly dropping temperatures in the fall. Summer temperatures typically range from 14°C to 24°C and winter temperatures stay between -20°C and -40°C (and sometimes a bit colder, but only for short periods). With such a range of temperatures and weather throughout the year, it is important to know the season and what type of clothing you will need, especially in winter. Winter Winter may not officially begin until late December, but in most of the NWT, the snow season begins in late October and extends to late April. In the coldest part of the season, temperatures range between -20°C and -40° C, so it is important to be prepared. There's a saying in the NWT; "there's no such thing as bad weather, just bad clothing choices". That's why it's important to make sure you have the right clothing for winter including a hat, mittens or gloves, a scarf, snow pants, winter boots and a warm coat. This is also the time of year when people from around the world visit the NWT, hoping see our shimmering aurora since the winter brings dark and often clear skies.

The slope of an indifference curve is the reservation price a worker attaches to moving to a slightly riskier job. An isoprofit curve gives all the risk-wage combinations that yield the same level of profits to a firm. Isoprofit curves are upward sloping because production of safety is costly.

Iso-Profit Curve

lots of safety, low wage The firm can only increase safety with more sophisticated and costly safety procedures sophisticated and costly safety procedures Stage of diminishing returns in the provision of safety The iso-profit is relatively steep Left to right: The firm starts with the cheapest forms of safety provision and moves to more expensive forms I0 to I1: Implies a higher level of profits. Professor Schuetze - Econ 370 5 Iso-profit curves with both lower wages and safety are higher because both are costly

Different Technology can have different abilities to provide safety at a given cost Thus different firms can have differently shaped iso Thus, different firms can have differently shaped iso profit curves for the same level of profits Wage Firm 1 (High Safety Costs) Professor Schuetze - Econ 370

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