Use backwards induction to find the Nash equilibrium in the game in Question 6.

9 Consider a game in which a Market Leader first decides whether to Lobby for anew law making it more difficult to compete in their market. Then, a New Entrant decides whether to Enter the Market, Stay Out, or Enter a Different Market. TheMarket Leader makes $60m if the New Entrant enters their market, and $100motherwise. The New Entrant makes $80m for Entering Different Market, and $0for Staying Out. If they Enter the Market, they make $60m if the leader Lobbied, and $100m otherwise. Draw this game tree and find the Nash equilibrium.