QUESTION 7 3 points EyerKya is a new furniture company. It hires one worker to produce chairs. Let Q be the number of chairs produced. The worker chooses how many hours H to work. During each hour worked. the employee is able to produce 6 chairs. For the worker, his personal cost of working is simply H2 Cast of Walking = T . The worker receives from EyerKya a payment b for each chair produced. The workei's utility equals his income minus his cost of working. The worker chooses the number of hours that maximizes his utility. EyerKya faces a downward sloping demand curve. If EyerKya sells Q chairs. then it can charge a price P = 436 2Q(inverse demand). EyeeKya's prot from the production of chairs equals its revenues minus the labor costs. The payment, b, that maximizes the llrm's profits is b = 2 v Under this contract Q = 108 v chairs will be produced and the rm's prots will be 23.544 v .