12. Consider the payoff matrix in Figure 2. What outcomes, if any, are Nash equilibria? Figure 2 Firm 2 Expand Expand West South Expand West 10, 90 35, 85 Firm 1 Expand South 20, 80 40, 50 a. There is one equilibrium: Firm 1 and Firm 2 both expand West- b. There is one equilibrium: Firm 1 and Firm 2 both expand South. 0. There is one equilibrium: Firm 1 expands South and Firm 2 expands West. d. There is one equilibrium: Firm 1 expands West and Firm 2 expands South. e. There are two equilibria: either can expand West, and the other expands South. f. All four outcomes are equilibria. g. None. 13. Two firms are in the chocolate market. Each can choose to go for the high end of the market (high quality) or the low end (low quality). Profits are given by the payoff matrix in Figure 3. What outcomes, if any, are Nash equilibria? Figure 3 Firm 2 Low High Low -20, -30 900, 600 Firm 1 High 100, 800 50, 50 a. There is one equilibrium: Firm 1 plays Low, Firm 2 plays Low. b. There is one equilibrium: Firm 1 plays Low, Firm 2 plays High. c. There is one equilibrium: Firm 1 plays High, Firm 2 plays Low. d. There is one equilibrium: Firm 1 plays High, Firm 2 plays High. e. There are two equilibria: Firm 1 plays Low, Firm 2 plays High; and Firm 1 plays High, Firm 2 plays Low. f. All four outcomes are equilibria. g. None.14. For the payoff matrices in Figures 2 and 3: Is/are neither, one, or both a prisoner's dilemma (PD)? a. Figure 2 is a PD, Figure 3 is not a PD. b. Figure 2 is not a PD, Figure 3 is a PD. 0. Both are a PD. d. Neither is a PD