Imagine you are a manager and have two employees. You want to ensure your business's success. However, your success depends on how well your employees perform. Your employees can work with either high or low effort. a. You want to induce high effort in Employee 1. You can pay them either a fixed wage or a fixed wage and a bonus wage. What payment option do you offer them and why? b. What is the optimal payment for Employee 1 to induce high effort? c. You decide to pay Employee 2 a fixed payment and a bonus. What is the range of bonuses you have to pay Employee 2 to induce high effort? d. What is the optimal payment scheme for Employee 2 if they have a reservation wage of 200 ? e. Imagine you want to induce low effort in Employee 2. You make 5,000 if they are successful. You can't pay them a bonus of less than 0 . i. At an optimal payment scheme, how much do you make if you choose to pay them the maximum bonus that induces low effort? Imagine you are a manager and have two employees. You want to ensure your business's success. However, your success depends on how well your employees perform. Your employees can work with either high or low effort. a. You want to induce high effort in Employee 1. You can pay them either a fixed wage or a fixed wage and a bonus wage. What payment option do you offer them and why? b. What is the optimal payment for Employee 1 to induce high effort? c. You decide to pay Employee 2 a fixed payment and a bonus. What is the range of bonuses you have to pay Employee 2 to induce high effort? d. What is the optimal payment scheme for Employee 2 if they have a reservation wage of 200 ? e. Imagine you want to induce low effort in Employee 2. You make 5,000 if they are successful. You can't pay them a bonus of less than 0 . i. At an optimal payment scheme, how much do you make if you choose to pay them the maximum bonus that induces low effort