Hello, could you please confirm my answer of 33.33 is correct for the economics problem below.
Consider a version of the Tragedy of the Commons in which herder 1 and 2 simultaneously choose to graze quantities of sheet q1 and q2, respectively, and in which the payoff functions are q1 ( - q1 - q2) for 1 and q2 ( 60-q1 - q2) for 2. The Nash equilibrium is q1* = q2* = :
3 3 3 3
ANSWER: (C) 33.33 (Actually the correct answer will be q1 = q2 = 20 which is not among the... View the full answer