12. Consider the payoff matrix in Figure 2. What outcomes, if any, are Nash equilibria? Figure 2 F im 2 Expand Expand West South Expand West 10, 90 35, 85 Firm 1 Expand South 20, 80 40, 50 There is one equilibrium: Firm 1 and Firm 2 both expand West. There is one equilibrium: Firm 1 and Firm 2 both expand South. There is one equilibrium: Firm 1 expands South and Firm 2 expands West. There is one equilibrium: Firm 1 expands West and Firm 2 expands South. There are two equilibria: either can expand West, and the other expands South. All four outcomes are equilibria. 9.9-9.6.\" I"