3. Voluntary contributions toward a public good Eric and Kenji are considering contributing toward the creation of a botanical garden. Each can choose whether to contribute $400 to the botanical garden or to keep that $400 for a cell phone. Since a botanical garden is a public good, both Eric and Kenji will benefit from any contributions made by the other person. Specifically, every dollar that either one of them contributes will bring each of them $0.90 of benefit. For example, if both Eric and Kenji choose to contribute, then a total of $800 would be contributed to the botanical garden. So, Eric and Kenji would each receive $720 of benefit from the botanical garden, and their combined benefit would be $1,440. This is shown in the upper left cell of the first table. Since a cell phone is a private good, if Eric chooses to spend $400 on a cell phone, Eric would get $400 of benefit from the cell phone and Kenji wouldn't receive any benefit from Eric's choice. If Eric still spends $400 on a cell phone and Kenji chooses to contribute $400 to the botanical garden, Eric would still receive the $360 of benefit from Kenji's generosity. In other words, if Eric decides to keep the $400 for a cell phone and Kenji decides to contribute the $400 to the public project, then Eric would receive a total benefit of $400+$360=$760, Kenji would receive a total benefit of $360, and their combined benefit would be $1,120. This is shown in the lower left cell of the first table. Of the four cells of the table, which gives the greatest combined benefits to Eric and Kenji? When both Eric and Kenji contribute to the botanical garden When Eric contributes to the botanical garden and Kenji doesn't, or vice versa When neither Eric nor Kenji contributes to the botanical garden Now, consider the incentive facing Eric individually. The following table looks similar to the previous one, but this time, it is partially completed with the individual benefit data for Eric. As shown previously, if both Eric and Kenji contribute to a public good, Eric receives a benefit of $720. On the other hand, if Kenji contributes to the botanical garden and Eric does not, Eric receives a benefit of $760. Complete the right-hand column of the following table, which shows the individual benefits of Eric. Hint: You are not required to consider the benefit of Kenji. If Kenji decides to contribute to the botanical garden, Eric would maximize his benefit by choosing to the botanical garden. On the other hand, if Kenji decides not to contribute to the botanical garden, Eric would maximize his benefit by choosing to the botanical garden