6. Common resources and the tragedy of the commons Clancy, Hubert, and Manuel are loggers who live next to a forest that is open to logging; in other words, anyone is free to use the forest for logging. Assume that these men are the only three loggers who log in this forest and that the forest is large enough for all three loggers to log intensively at the same time. Each year, the loggers choose independently how many acres of trees to cut clown; specifically, they choose whether to log intensively [that is, to clearcut a section of the forest, which hurts the sustainability of the forest if enough people do it) or to log nonintensively (which does not hurt the sustainability of the forest). None of them has the ability to control how much the others log, and each logger cares only about his own profitability and not about the state of the forest. Assume that as long as no more than one logger logs intensively, there are enough trees to regrow the forest. However, if two or more log intensively, the forest will become useless in the future. Of course, logging I'ntensiyely earns a logger more money and greater prot because he can sell more trees. The forest is an example of 'V because the trees in the forest are '7 and V . Depending on whether Hubert and Manuel both choose to log either nonintensively or intensively, fill in Clancy's profit-maximizing response in the following table, given Hubert and Manuel's actions. Hubert and Manuel's Actions Log Nonintensively Log Intensively Clancy's Profit-Maximizing Response Which of the following solutions could ensure that the forest is sustainable in the long run, assuming that the regulation is enforceable? Check all that apply. O Convert the forest to private property, and allow the owner to sell logging rights. O Develop a program that entices more loggers to move to the area. O Outlaw intensive logging.The forest is an example of because the trees in the forest are and a public good a club good Depending on whether Hube a private good loose to log either nonintensively or intensively, fill in Clancy's profit-maximizing response in the following table, given Huber a common resource Hubert and Manuel's ActionsThe forest is an example of because the trees in the forest are and excludable nonexcludableThe forest is an example of V because the trees in the forest are V and nonn'val in consumption rival in consumption Hubert and Manuel's Actions Log Nonintensively Log Intensively Clancy's Profit-Maximizing Response Log Nonintensively Which of the following solutions could ens sustainable in the long run, assuming that the regulation is enforceable? Check all that apply. Log IntensivelyDepending on whether Hubert and Manuel both choose to log either nonintensively or intensively, fill in Clancy's profit-maximizing response in the following table, given Hubert and Manuel's actions. Hubert and Manuel's Actions Log Nonintensively Log Intensively Clancy's Profit-Maximizing Response Which of the following solutions could ensure that the forest is sustainab Log Intensively uming that the regulation is enforceable? Check all that apply. Log Nonintensively