Ten Workers Work Jointly on a Project

question 10

Multiple Choice

Ten workers work jointly on a project.All 10 workers are equally skilled.The total value of the output produced is $60 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)$1,800
• B)$180
• C)$30
• D)$195
• E)None of the above.

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Definitions:

External Recruitment

The process of filling job vacancies within an organization by hiring individuals from outside the organization.

Campus Recruitment

The process by which companies visit educational institutions to recruit students and recent graduates directly into entry-level positions.

Selection Process

The series of steps taken by an organization to assess and choose candidates for employment.

Job Applicants

Individuals who apply for a specific job vacancy, seeking employment within an organization.