Solved

Consider a Version of the Tragedy of the Commons in Which

Question 7

Multiple Choice

Consider a version of the Tragedy of the Commons in which herder 1 and 2 simultaneously choose to graze quantities of sheep q1q _ { 1 } and q2q 2 ,respectively,and in which the payoff functions are q1(100q1q2) q _ { 1 } \left( 100 - q _ { 1 } - q _ { 2 } \right) for 1 and q2(100q1q2) q _ { 2 } \left( 100 - q _ { 1 } - q _ { 2 } \right) for 2.The Nash equilibrium is q1=q2=q _ { 1 } ^ { * } = q _ { 2 } ^ { * } =


A) 100.
B) 60.
C) 40.
D) 33.3.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions