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Need help ASAP! Will upvote once answered. Thank you The situation you need to consider... You and four other farmers lease land from the government
Need help ASAP!
Will upvote once answered. Thank you
The situation you need to consider... You and four other farmers lease land from the government to graze your cattle, subject to the following conditions. - The land can support 100 healthy cows. - A healthy cow weighs 500 lbs. Assume that a cow cannot exceed 500lbs, and that the entire 500lbs is meat available for market. - For every cow (above 100 cows) added to the field, each cows suffers a 10 pound reduction in weight. - Assume a cow cannot survive (or is not marketable/sellable) if it weighs less than 300 lbs. - The government believes in a self-policing policy you and your fellow farmers must manage your herds on your own. ANSWER the following questions based on the above situation. 1. Graph the weight of each cow as a function of the number of cows in the field. Use a ruler to draw a graph/grid. (5 points) 2. Examine the relationship you have just graphed. What type of relationship is this? Is this realistic assumption in "real life"? (3 points) 3. What is the number of cows that will cause the commons to collapse? In other words, at what point does the field fail to support any cattle? (2 points) 4. How do you characterize this number from Question 3: is it a proxy (indirect) or direct measure of the commons collapsing? Why? (3 points) 5. Each farmer (you and the four others) has 20 head of cattle. Develop a table that shows the "payoff" or "profit" (your payoff = the number of pounds of cattle) that results from your decision to add or not add one cow versus every one of the other farmers' decision to add or not add one cow each (the payoff should be in total pounds for each farmer's herd). Do this for 2 and 3 cows as well. As an example, the payoff for no one adding more cattle would appear as follows in the top row. Recreate this table and complete it on vour submission. SHOW YOUR CALCULATIONS ( 9 points) \begin{tabular}{|c|c|c|c|} \hline 0 & 0 & & \\ \hline 2 & 0 & & \\ \hline 0 & 2 & & \\ \hline 2 & 2 & & \\ \hline 0 & 0 & & \\ \hline 3 & 0 & & \\ \hline 0 & 3 & & \\ \hline 3 & 3 & & \\ \hline \end{tabular} The situation you need to consider... You and four other farmers lease land from the government to graze your cattle, subject to the following conditions. - The land can support 100 healthy cows. - A healthy cow weighs 500 lbs. Assume that a cow cannot exceed 500lbs, and that the entire 500lbs is meat available for market. - For every cow (above 100 cows) added to the field, each cows suffers a 10 pound reduction in weight. - Assume a cow cannot survive (or is not marketable/sellable) if it weighs less than 300 lbs. - The government believes in a self-policing policy you and your fellow farmers must manage your herds on your own. ANSWER the following questions based on the above situation. 1. Graph the weight of each cow as a function of the number of cows in the field. Use a ruler to draw a graph/grid. (5 points) 2. Examine the relationship you have just graphed. What type of relationship is this? Is this realistic assumption in "real life"? (3 points) 3. What is the number of cows that will cause the commons to collapse? In other words, at what point does the field fail to support any cattle? (2 points) 4. How do you characterize this number from Question 3: is it a proxy (indirect) or direct measure of the commons collapsing? Why? (3 points) 5. Each farmer (you and the four others) has 20 head of cattle. Develop a table that shows the "payoff" or "profit" (your payoff = the number of pounds of cattle) that results from your decision to add or not add one cow versus every one of the other farmers' decision to add or not add one cow each (the payoff should be in total pounds for each farmer's herd). Do this for 2 and 3 cows as well. As an example, the payoff for no one adding more cattle would appear as follows in the top row. Recreate this table and complete it on vour submission. SHOW YOUR CALCULATIONS ( 9 points) \begin{tabular}{|c|c|c|c|} \hline 0 & 0 & & \\ \hline 2 & 0 & & \\ \hline 0 & 2 & & \\ \hline 2 & 2 & & \\ \hline 0 & 0 & & \\ \hline 3 & 0 & & \\ \hline 0 & 3 & & \\ \hline 3 & 3 & & \\ \hline \end{tabular}
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