3.1. Find the Nash equilibrium of the following game (see attachment). (3 marks) 3.2. Specify any Dominant Strategies in the above game (see attachment). (1 mark) Two firms (1 and 2) in an industry can either produce a high quality product or a low quality one. If they produce the same level of output competition drives profits down to zero. If they produce different qualities, the high quality producer gets a profit of 10 and the low quality producer gets 5. 3.3. Draw the payoff matrix for this game. (4 marks) 3.4. What are the equilibria for the game? (see attachment) (2 marks) 3.5. What is the equilibrium of the game above? (see attachment) (2 marks) 3.6. Does the game in 3.4 (see attachment) depict a case of Prisoner's Dilemma? If yes, state why? If no, state why? (3 marks) Payoff matrix for 3.1 and 3.2. Adidas High Output 8,6 2.7 Low Output 5,3 Nike High Output Low Output 6,2 Payoff matrix for 3.4, 3.5 and 3.6. Firm B Firm A High Output Low Output High Output 5,5 3,7 Low Output 7.3 6,6