Question: This is a question about Game Theory: There are 5 players, each ofwhich has $1 0, Each player chooses how much of their $10 to

This is a question about Game Theory:

This is a question about Game Theory: There are 5 players, each

There are 5 players, each ofwhich has $1 0, Each player chooses how much of their $10 to contribute to a public pool. If the sum of the contributions of all 5 players is C 2 0, then the public pool returns f(C) = C2 + 6C, This return is divided evenly between the players regardless of how much each contributed. (a) Write down all elements of a game that represents this situation. (b) Draw the function given by f(C) = C2 + 6C, assuming for (b) only that C E IR, that is, that C can be any positive or negative number. Calculate the derivative f' off, and determine f'(0). (c) Explain whether player 1 has a strongly dominant strategy, and if yes, state player 1's strongly dominant strategy

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