Consider a Firm Composed of 5 Workers,each with a Utility $U ( l ) = w l - l ^ { 2 }$

question 8

Multiple Choice

Consider a firm composed of 5 workers,each with a utility function of the form $U ( l ) = w l - l ^ { 2 }$ where l is hours worked and w is the wage.Suppose the firm can monitor the number of hours worked by each worker and pays them $w = 20$ per hour.How many hours will each worker choose to work?

• A)2 hours.
• B)4 hours.
• C)8 hours.
• D)10 hours.

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