Jill and Jack both have two poils that can be used to carry water down from a hill. Each makes only one trip down the hill, and each pall of water can be sold for $7. Carrying the pails of water down requires considerable effort. Both Jill and Jack would be willing to pay $5 each to avoid carrying one pall down the hill, and an additional $6 to avoid carrying a second pail down the hill. a. If Jack and Jill each must decide whether to carry one or two poils of water down from the top of the hill, how many palls will each child choose to carry? pail(s) b. Jill and Jack's parents are worried that the two children don't cooperate enough with one another. Suppose they make Jill and Jack share equally their revenues from selling the water. Given that both are self-interested, construct the payoff matrix for the decisions Jill and Jack face regarding the number of pails of water each should carry, Instructions: In the payoff matrix below, enter the payoffs for each child for each possible combination of strategies. Entries should represent the net benefit to each player. Enter your responses rounded to two decimal places. If you are entering a negative number be sure to include a negative () sign in front of that number. Carry 1 poil Corry 2 pails $ for Jack for each Carry 1 pail for Jul Jock for Jack $ for each Corry 2 for Jill pails 31 b. Jill and Jack's parents are worried that the two children don't cooperate enough with one another. Suppose they make share equally their revenues from selling the water. Given that both are self-interested, construct the payoff matrix for the and Jack face regarding the number of pails of water each should carry. Instructions: In the payoff matrix below, enter the payoffs for each child for each possible combination of strategies. Entries represent the net benefit to each player. Enter your responses rounded to two decimal places. If you are entering a negativ- be sure to include a negative (-) sign in front of that number 00:49.03 Jill Carry 1 pail Carry 2 pails $ for Jack for each Carry 1 pail for Jill Jack $ for Jack for each $ Carry 2 pails for JH What is the equilibrium outcome? Jack will carry two pails of water and it will carry one. Each will carry one pall of water. Each will carry two palls of water. Jack will carry one pall of water and Jill will carry two.