Need help with question #17

Final exam X + X C newconnect.mheducation.com/flow/connect.html?returnUrl=https%3A%2F%2Fconnect.mheducation.com%2Fpaamweb%2Findex.html%23%2F... Paused . . . Apps G Google M Gmail UCONN HUSKY CT Checkout page to c... https://connect.mh... Screenwise Panel Next Steps... IRS Chapter 2 Flashcard.. Final exam i Saved Help Save & Exit Submit Village income: $ 17 b. What is the socially optimal number of llamas for this village? Socially optimal number of llamas: points What would village income be if the socially optimal number of llamas were sent onto the commons? Skipped Instructions: Enter your response as a whole number. Print Village income: $ c. The village committee votes to auction the right to graze llamas on the commons to the highest bidder. Assuming villagers can both borrow and lend at 14 percent annual interest, how much will the right sell for at auction? Instructions: Enter your response rounded to two decimal places. $ What will be the resulting village income? Instructions: Enter your response as a whole number. Village income: $ Mc Graw Hill Education O 9:27 PM 5/3/2020Final exam X + X C newconnect.mheducation.com/flow/connect.html?returnUrl=https%3A%2F%2Fconnect.mheducation.com%2Fpaamweb%2Findex.html%23%2F... Paused . . . Apps G Google M Gmail UCONN HUSKY CT Checkout page to c... https://connect.mh... Screenwise Panel Next Steps.. IRS Chapter 2 Flashcard. Final exam i Saved Help Save & Exit Submit 17 Question 17 A village has six residents, each of whom has accumulated savings of $100. Each villager can use this money either to buy a government bond that pays 14 percent interest per year or to buy a year-old llama, send it onto the commons to graze, and sell it after 1 year. The price the villager gets for the 2-year-old llama depends on the quality of the fleece it grows while grazing on the commons. points following table: That in turn depends on the animal's access to grazing, which depends on the number of llamas sent to the commons, as shown in the Skipped Number of llamas Price per 2- on the commons year-old 1lama ($) Print IN 125 119 3 116 113 111 6 109 The villagers make their investment decisions one after another, and their decisions are public. village income? a. If each villager decides individually how to invest, how many llamas will be sent onto the commons, and what will be the resulting Number of llamas: Instructions: Enter vour response as a whole number Mc Graw Hill Education 9:27 PM 5/3/2020