Question 3 [24 marks] Consider identical farmers, Farmer A and Farmer B, who share a common grazing field. The two farmers face Hardin's Tragedy of the Commons. The utility functions for the farmers, u and u, are given below with h representing the hours each farmer allows their cattle to graze. In addition, assume a social welfare function given as W = u + u. u^ = h^[y 0.53(h^ + h)] (h) u" =hy 0.5(h^ +h 1. Concerned about the Tragedy of the Commons facing the farmers, the government de- cides to intervene by imposing a tax on grazing hours. Mathematically solve for the joint utility maximising Nash Equilibrium tax. Show all your workings. [12 marks]