Business, 13.08.2021 04:30 christib

You and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the situation: If both of you work hard, you both get an A, which gives each of you 40 units of happiness.
If only one of you works hard, you both get a B, which gives each of you 30 units of happiness.
If neither of you works hard, you both get a D, which gives each of you 10 units of happiness.
Working hard costs 25 units of happiness.

a. Fill in the payoffs in the following decision box:

Your Decision Classmate's Decision
Work/Work Your: Classmate:
Shirk/Work Your: Classmate:
Work/Shirk Your: Classmate:
Shirk/Shirk Your: Classmate:

b. What is the likely outcome?

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You and a classmate are assigned a project on which you will receive one combined grade. You each wa...

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