A Small Community Has 10 People, Each of Whom Has

question 10

Multiple Choice

A small community has 10 people, each of whom has a wealth of $3,000.Each individual must choose whether to contribute $300 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 .50 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 $300 to support public entertainment.
• B)This game has two Nash equilibria, one in which everybody contributes $300 and one in which no-body contributes $300.
• C)This game has no Nash equilibrium in pure strategies, but has a Nash equilibrium in mixed strategies.
• D)This game has a Nash equilibrium in which 5 people contribute $300 and for public entertainment and 5 people contribute nothing.
• E)This game has a dominant strategy equilibrium in which nobody contributes anything for public entertainment.

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Definitions:

Business Plan

A detailed document outlining the objectives of a business, the strategy and tactics planned to achieve them, and the expected financial performance over a period of time.

Financial Projections

Estimates of future financial performance, including income, expenses, and cash flow, over a specific period.

Business Plan

A comprehensive document that describes a company’s mission, structure, objectives, and operations.

Company's Mission

A statement that defines the purpose and core values of a company, guiding its decisions and strategies.