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33 is correct for the economics problem below.

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

a. 100

b. 60

c. 33.33

d. 40

Top Answer

ANSWER: (C) 33.33 (Actually the correct answer will be q1 = q2 = 20 which is not among the... View the full answer

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