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Consider two roommates, Mark and Elon, who are considering purchasing ultrafastwifi for their apartment for $200. Mark values the wifi at $160 and Elon at
Consider two roommates, Mark and Elon, who are considering purchasing ultrafastwifi for their apartment for $200. Mark values the wifi at $160 and Elon at $140. Both decideindependently whether or not to contribute to buying the wifi. If they both contribute, they split the cost. ifMark contributes and Elon does not, Mark must pay the full cost of the ultrafast wifi. a. When is it efficient for Mark and Elon to purchase the ultrafast wifi?b. Draw the payoff matrix. (Write Mark's payoff as the first number in each box, and Elon's payoff asthe second.) c. What is the
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