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Problem #9 Imagine that there are N agents. Furthermore, assume that agent 1' receives signal (53 N U [1, 1]. Signals are independently drawn and

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Problem #9 Imagine that there are N agents. Furthermore, assume that agent 1' receives signal (53\" N U [1, 1]. Signals are independently drawn and are only privately known. Assume that the payoff of an individual who is idle is equal to D and an individual who is active receives a payoff of 7H?:61+92+...+9I'1+6i+ai+1+...+aN. Imagine that 6'1 = %, and 6\": = % + 21.31 for 2' 2 2. It is socially optimal to be active in this case? a) No 1)) Yes c) Only if N

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