Ten Workers Work Jointly on a Project

question 28

Multiple Choice

Ten workers work jointly on a project.All 10 workers are equally skilled.The total value of the output produced is $90 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)$420
• B)$45
• C)$405
• D)$4,050
• E)None of the above.

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Definitions:

Authority

The power or right assigned to an individual or organization to make decisions, give orders, and enforce obedience.

Sense Of Mission

A strong feeling of having a specific and important purpose or duty to fulfill.

Goals

Objectives or desired outcomes that an individual or organization aims to achieve within a specific timeframe.

Leadership

The act of guiding or influencing others towards the achievement of goals, characterized by inspiration, vision, and the ability to direct.