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2. Examine the matrix below: Player 2 L C R T (5, 10) (4, 4) (10, 8) Player 1 M (8, 4) (4, 3) (0,
2. Examine the matrix below: Player 2 L C R T (5, 10) (4, 4) (10, 8) Player 1 M (8, 4) (4, 3) (0, 2) B (4, 6) (6, 10) (2, 4) (i) One strategy for each player can be eliminated by Iter- ated Elimination of Strictly Dominated Strategies (IESDS), which ones? For each one, explain why it can be eliminated and find a strategy that dominates it. [9 Marks] (ii) In the reduced game that results, find all the Nash equilibria. [8 Marks] (iii) Graph the best response function of each player showing the Nash equilibria. [8 Marks]
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