3 ranchers use a grassland to feed their cows. The ranchers must choose how many cows to raise. The benefit of raising a cow for a rancher is 100- 1²p per cow, where G is the total quantity of cows using the grassland. The marginal cost of raising a cow is 10. Hence, the net benefit of raising cows for any rancher is (100-²) - 10g, where g is the quantity of cows raised by the rancher. What is the total quantity of cows using the grassland, implied by the Nash Equilibrium? ● O O √5 ● √5 QUESTION 15 ● 9 3 ranchers use a grassland to feed their cows. The ranchers must choose how many cows to raise. The benefit of raising a cow for a rancher is 90-G per cow, where is the total quantity of cows using the grassland. The marginal cost of raising a cow depends on the number of cows and equal to MC = 6g₁, where g, is the number of cows raised by a rancher i, i=1,2,3. What is the optimization problem that rancher 1 solves? 12 max, (90-C)g₁-691 max (90-C)C-6G max (90-C)G-3G² max, (90-C)g₁-391
3 ranchers use a grassland to feed their cows. The ranchers must choose how many cows to raise. The benefit of raising a cow for a rancher is 100- 1²p per cow, where G is the total quantity of cows using the grassland. The marginal cost of raising a cow is 10. Hence, the net benefit of raising cows for any rancher is (100-²) - 10g, where g is the quantity of cows raised by the rancher. What is the total quantity of cows using the grassland, implied by the Nash Equilibrium? ● O O √5 ● √5 QUESTION 15 ● 9 3 ranchers use a grassland to feed their cows. The ranchers must choose how many cows to raise. The benefit of raising a cow for a rancher is 90-G per cow, where is the total quantity of cows using the grassland. The marginal cost of raising a cow depends on the number of cows and equal to MC = 6g₁, where g, is the number of cows raised by a rancher i, i=1,2,3. What is the optimization problem that rancher 1 solves? 12 max, (90-C)g₁-691 max (90-C)C-6G max (90-C)G-3G² max, (90-C)g₁-391
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![QUESTION 14
1² per
3 ranchers use a grassland to feed their cows. The ranchers must choose how many cows to raise. The benefit of raising a cow for a rancher is 100-
cow, where G is the total quantity of cows using the grassland. The marginal cost of raising a cow is 10. Hence, the net benefit of raising cows for any rancher is
-C²)g- 10g, where g is the quantity of cows raised by the rancher. What is the total quantity of cows using the grassland, implied by the Nash
3
(100-
Equilibrium?
0
9
√5
3
√5
O
9
12
QUESTION 15
3 ranchers use a grassland to feed their cows. The ranchers must choose how many cows to raise. The benefit of raising a cow for a rancher is 90-G per cow,
where is the total quantity of cows using the grassland. The marginal cost of raising a cow depends on the number of cows and equal to MC = 6g₁, where g, is
the number of cows raised by a rancher i, i = 1,2,3. What is the optimization problem that rancher 1 solves?
max, (90-G)g₁-691
max (90-G)G-6G
max (90-C)G-3G²
9₁ (90-G)g₁-391
max g₁ (s](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F87a0dc91-e441-42d6-b9cf-db56d286595d%2F6f2b1589-1e45-4a74-857b-a6610e4d7290%2Fdwmb2co_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 14
1² per
3 ranchers use a grassland to feed their cows. The ranchers must choose how many cows to raise. The benefit of raising a cow for a rancher is 100-
cow, where G is the total quantity of cows using the grassland. The marginal cost of raising a cow is 10. Hence, the net benefit of raising cows for any rancher is
-C²)g- 10g, where g is the quantity of cows raised by the rancher. What is the total quantity of cows using the grassland, implied by the Nash
3
(100-
Equilibrium?
0
9
√5
3
√5
O
9
12
QUESTION 15
3 ranchers use a grassland to feed their cows. The ranchers must choose how many cows to raise. The benefit of raising a cow for a rancher is 90-G per cow,
where is the total quantity of cows using the grassland. The marginal cost of raising a cow depends on the number of cows and equal to MC = 6g₁, where g, is
the number of cows raised by a rancher i, i = 1,2,3. What is the optimization problem that rancher 1 solves?
max, (90-G)g₁-691
max (90-G)G-6G
max (90-C)G-3G²
9₁ (90-G)g₁-391
max g₁ (s
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