A Small Community Has 10 People, Each of Whom Has

question 3

Multiple Choice

A small community has 10 people, each of whom has a wealth of $19,000.Each individual must choose whether to contribute $200 or $0 to the support of public entertainment for their community.The money value of the benefit that a person gets from this public entertainment is .80 times the total amount of money contributed by individuals in the community.

• A)This game has a dominant strategy equilibrium in which all 10 citizens contribute $200 to support public entertainment.
• B)This game has two Nash equilibria, one in which everybody contributes $200 and one in which nobody contributes $200.
• C)This game has a Nash equilibrium in which 5 people contribute $200 and for public entertainment and 5 people contribute nothing.
• D)This game has no Nash equilibrium in pure strategies, but has a Nash equilibrium in mixed strategies.
• E)This game has a dominant strategy equilibrium in which nobody contributes anything for public entertainment.

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Definitions:

Symbolic Form

The representation of logical propositions or statements using symbols to denote logical relationships and operations.

Connective

A symbol or word used in logic to connect propositions or sentences, such as "and", "or", "if...then".

Symbolic Form

The representation of logical propositions using symbolic notation to express logical relationships.

Components

The constituent parts or elements that make up a larger system or compound.