Consider a firm composed of 5 workers,each with a utility function of the form ,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 Per hour.How many hours will each worker choose to work?
A)2 hours
B)4 hours
C)8 hours
D)10 hours

Question

Consider a firm composed of 5 workers,each with a utility function of the form  ,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  Per hour.How many hours will each worker choose to work?
A)2 hours 
B)4 hours 
C)8 hours 
D)10 hours

Quizplus · Accepted Answer

The Answer of Consider a firm composed of 5 workers,each with a utility function of the form  ,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  Per hour.How many hours will each worker choose to work?
A)2 hours 
B)4 hours 
C)8 hours 
D)10 hours

Consider a Firm Composed of 5 Workers,each with a Utility