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1. This table shows the payoff matrix for a simultaneous one-shot game in which Anil and Bala choose their crops. Answer the following: a. Determine
1. This table shows the payoff matrix for a simultaneous one-shot game in which Anil and Bala choose their crops. Answer the following: a. Determine all equilibrium allocations of the game by first finding the best response of each player against the strategy of the other player b. Find all Pareto optimal allocations of the game c. Which allocations are Pareto improvements to the allocation (Cassava, Cassava)? Explain (4) 2. Alan and Beatrice are students who are being investigated for colluding on an assignment. The figures show their payoffs from their individual choices to Deny or Confess, and Alan's indifference curves. a. What is Alan's equilibrium strategy if he is somewhat altruistic? Explain your answer b. What is Alan's equilibrium strategy if he is completely selfish? Explain your answer c. Solve for equilibrium strategies of this game assuming no information about social preference
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