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:

Financial Abuse

A form of mistreatment where one individual manipulates or takes control of another individual's financial resources without their consent, often leading to financial instability and hardship for the victim.

Needed Medication

Medications deemed necessary for the treatment or management of a specific medical condition.

Jewelry

Decorative items worn for personal adornment, such as rings, necklaces, earrings, and bracelets, often made of precious metals and stones.

Elder Maltreatment

The abuse or neglect of older individuals, ranging from physical and emotional harm to financial exploitation and neglect.