Please try to solve it complete in 30 minute please Questionis the row player and player 2 is the column player. Assume preferences are vNMpreferences.Two players are playing the following game, where player 1L CT 2,0 | 3,2М 3,4 | 2,01.1 Find all the (pure and mixed) Nash Equilibria (NE) of the game.Assume now that players get more actions at their disposal. In particular, the gamebecomes the following, where n is some real number (not necessarily an integer):L CRT 2,0 3,2 1,3М 3,4 | 2,0 | 4,2в 2,0 | п,4 | 2,31.2 For what values of n is B a strictly dominated action? Prove and explain youranswer. Assuming that B is a strictly dominated action, can you use iterative elimi-nation of dominated actions to solve the game? Explain.1.3 Assume now that n = 4. Are any actions strictly dominated? Explain youranswer. Find all the pure strategy NE.1.4 Still assuming n = 4, is there an equilibrium in which player 2 randomizesbetween all three actions? Explain your answer. Find all the mixed strategy NE ofthe game.

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Question is the row player and player 2 is the column player. Assume preferences are vNM preferences. Two players are playing the following game, where player 1

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter8: Game Theory

Section: Chapter Questions

Problem 8.7P

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