what is the answer for a-d

2. Suppose that Richard and Haomiao wish to work on a joint project together, which will result in the production of a good. Each can choose to exert either high or low effort. The technology of their relationship is represented below. R H H H 60, 60 20, 70 70, 10 25, 25 (a) What effort choices should they contract to induce? (b) Suppose, instead, that the players write an incomplete contract, and the court uses expectation damages. Assume full verifiability. Can the jointly-efficient outcome (from part (a)) be implemented? Briefly explain. (c) Suppose, instead, that the players write an incomplete contract, and the court uses reliance damages. Assume full verifiability. Can the jointly- efficient outcome (from part (a)) be implemented? Briefly explain. (d) Suppose, instead, that the players write an incomplete contract, and the court uses restitution. Assume full verifiability. Can the jointly- efficient outcome (from part (a)) be implemented? Briefly explain