3. Solving for dominant strategies and the Nash equilibrium Suppose Ethan and Cadence are playing a game that requires both to simultaneously choose an action: Up or Down. The payoff matrix that follows shows the earnings of each person as a function of both of their choices. For example, the upper-right cell shows that if Ethan chooses Up and Cadence chooses Down, Ethan will receive a payoff of 6 and Cadence will receive a payoff of 4. Cadence Up Down Up 4. 3 6. 4 Ema" Down 6.7 7.6 In this game, the only dominant strategy is for Ethan V to choose Up V . The outcome reflecting the unique Nash equilibrium in this game is as follows: Ethan chooses V and Cadence chooses V