GU ESTI ON 20 10 points Save Answer Consider a standard Problem of the Commons. N (N > 1) ranchers use a grassland to feed their cows. The ranchers must choose how many cows to raise. The benet of raisin a cow for a rancher is a - DC per cow, where C is the total quantity of cows using the grassland. The marginal cost of raising a cow is C. Hence, the net benet of raising cows for any rancher U = 1,2 ,...,N is (a - bC)g, - C9,; where g,- is the quantity of cows raised by the rancher. In a Nash Equilibrium, O The total quantity of cows increases when the number of ranchers increases 0 The total quantity of cows decreases when the number of ranchers increases 0 The total quantity of cows does not change when the number of ranchers increases 0 The total quantity of cows first decreases, but then increases when the number of ranchers increases