Ten Workers Work Jointly on a Project

question 23

Multiple Choice

Ten workers work jointly on a project.All 10 workers are equally skilled.The total value of the output produced is $70 times the sum of the number of hours worked by all 10 workers.Each worker's utility is equal to his income minus the square of the number of hours he works.Each worker is selfish.The employers have no way of keeping track of any individual's work effort, so they decide to let each person work as long as he wants to and they divide the total value of the output equally among the workers.How much income will each worker get?

• A)$245
• B)$2,450
• C)$35
• D)$260
• E)None of the above.

Recognize the role and influence of different brain structures on personality characteristics and behavior.

Identify how genetic makeup, including monozygotic twins, contributes to personality differences despite shared environments.

Comprehend the impact of neurotransmitters on personality traits such as impulsivity and neuroticism.

Understand the contribution of evolutionary psychology to explaining human desires, preferences, and common personality traits.

---

Definitions:

Economic Rent

Payment to a factor of production in excess of what is needed to keep that factor in its current use.

Production Cost

The total expense of producing a good or service, including labor, materials, and overhead costs.

Land Rent

The payment made for the use of land, which is determined by its location, fertility, and other factors influencing its productive capacity.

Acres

A unit of land area used in the United States and some other countries, equivalent to 43,560 square feet.