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1. Suppose the government can commit to its policy. Do the following: (a) Revise the aforementioned game format to reect oommitment. [Note: You don't have

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1. Suppose the government can commit to its policy. Do the following: (a) Revise the aforementioned game format to reect \"oommitment\". [Note: You don't have to rewrite everything. Just mention which part(a) of the above format needs(need) to be changed.] (b) Analyze the game and solve for the equilibrium outcome. That is, what is the optimal choice of announcement (k3, hf)? Moreover, solve for the welfare loss

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