[Show your work] EyeKya employs 20 workers who produce chairs. During each hour it worked, each em- ployee is able to produce 2 chairs. Working
[Show your work] EyeKya employs 20 workers who produce chairs. During each hour it worked, each em- ployee is able to produce 2 chairs. Working hours are exible, so that each worker is free to choose how many hours they want to work. For each worker, his personal cost of working is simply Cost of working : 5h2, where h is the number of hours worked by this worker. Each worker receives from EyeKya a payment b for each chair produced. The worker's utility equals his income minus his cost of working. The worker chooses the num ber of hours that maximizes his utility. EyeKya is able to sell each chair at a price P = 198. In addition to the bonus paid to workers, Eye-Kya also incurs a cost for the material used to produce the chairs. The cost of the material equals Q2, where Q is to total quantity of chairs produced by all workers in the company. The bonus I} that maximizes the rm's prot is (3* = . Hint: use q to repre- sent the production of each worker and Q to represent the total production in the rm. ( 3 10 CO H to O H .42. U H ) C) (l ()1 ) El (13
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