Tragedy of the Commons You are a herder and your neighbor is a herder also. Both of you want your sheep to be as happy as that little fellow below and preserve the common land. The value of grazing on the Commons is given by: V(q1,q2)=240(q1+q2) where q1 are your number of sheep and q2 are the number of sheep from your neighbor. State the normal form of the game (the payoff functions: multiply V by the different number of sheep for each herder), find the Nash Equilibrium (Hint: maximize each herder's pay function to get the best response function and then solve for q1 and q2 ). Tragedy of the Commons You are a herder and your neighbor is a herder also. Both of you want your sheep to be as happy as that little fellow below and preserve the common land. The value of grazing on the Commons is given by: V(q1,q2)=240(q1+q2) where q1 are your number of sheep and q2 are the number of sheep from your neighbor. State the normal form of the game (the payoff functions: multiply V by the different number of sheep for each herder), find the Nash Equilibrium (Hint: maximize each herder's pay function to get the best response function and then solve for q1 and q2 )