Suppose a Worker Is Paid According to the Following Pay

question 65

Essay

Suppose a worker is paid according to the following pay scheme:
For every unit produced,the worker gets $8.Assume a worker can produce three units per hour.
a.Express the worker's earnings as a function of hours worked.
b.Graph the equation for earnings.
c.Graphically depict equilibrium,and show the earnings and hours worked by the employee.
d.Do you think that from the firm's point of view,this scheme is better,worse,or the same as paying the worker a wage of $24 per hour?
Explain carefully.

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