' A village has five residents, each of whom has accumulated savings of $100. Each villager can use the money to buy a government bond that pays 10% interest per year or to buy a year-old goat, send it onto the commons to graze, and sell it after one year. The price of the goat that the villager will get at the end of the year depends on the amount of weight it gains while grazing on the commons, which in turn depends on the number of goats sent anto the commans, as shown in table below. Suppose the self-interested villagers sequentially decide whether to purchase a goat. How many goats will be purchased? Suppose a village elder decides the total number of goats and bonds with the goal of maximizing total village income. How many goats will be purchased? Number of Price per 2- Income per Goats year Old Goat Goat 1 140 40 130 30 120 20 110 10 105 3 Vi b W N