Abel, Brenda, and Carlos are members of the Human Resources Management club at their university. The club plans to bring a motivational speaker to campus with money earned selling doughnuts at the local farmers' market. If the club sells doughnuts on three weekends, it will be able to afford a terrific speaker and Abel, Brenda, and Carlos will each get 100 units of happiness. If the club sells doughnuts on two weekends, it will be able to afford an above-average speaker that brings each member 70 units of happiness. If the club sells doughnuts on just one weekend, it will be able to bring in their colleges' personnel director to speak and each member will receive 25 units of happiness. If the club doesns' sell doughnuts at all, nobody will receive anything. Abel is scheduled to sell doughnuts the first weekend, Brenda the second, and Carlos the third, after which the farmers' market closes down for the winter. Working at the farmers' market costs the worker 40 units of happiness. On the scheduled day, each worker must choose between staffing the doughnut stand or sleeping in. Required:
a. On a separate sheet of paper, draw the extensive form of this game, with Abel moving first, Benda second, and Carlos third.
b. The equilibrium outcome of this game is .
c. The club will bring in .
d. Draw the extensive form of this game.
e. Solve for the equilibrium outcome of this game. What does each player do? What kind of speaker does the club bring in?