6. Your economics instructor is at it again (see question 4). This time, you have to do...
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6. Your economics instructor is at it again (see question 4). This time, you have to do a twostudent project. Assume that you and your partner are both interested in maximizing your grade, but you are both very busy and would be happier if you could get a good grade with less work.
a. What is your dominant strategy? Explain.
b. What is your partner’s dominant strategy?
Explain.
c. What is the Nash equilibrium in this situation?
Explain.
d. If you and your partner are required to work together on a number of projects throughout the semester, how might this requirement change the outcome you predicted in parts (a), (b), and (c)?
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