8) Refer to the scenario above. Which of the following is true? A) A Nash equilibrium occurs if Firm I changes a price of $5 and Firm 2 charges a price gamer tree than B) A Nash equilibrium occurs if Firm 1 charges $6 and Firm 2 charges $5, C) The dominant strategy equilibrium is the Nash equilibrium. D) This game does not have a Nash equilibrium. () Refer to the scenario above. The best approach to play this game in to use "A a mixed strategy B) a dominant strategy C) backward Induction to come to a decision D) credible commitments to influence the payoffs of the game 7) Which of the following is true of an extensive-form game? A) The sum of the payoffs to the players in the game is always constant. B) The players in the game carn equal payoffs in equilibrium. O)It involves simultaneous decision making by the players. D) It involves sequential decision making by the players. 8) The difference between an extensive-form game and a simultaneous-move game is that A) simultaneous-move games have two players, but extensive-form games can have more than two players B) in extensive-form games the player can observe the other player's action before deciding, but in simultaneous-move they can't C) simultaneous-move games have zero-sum payoffs, but extensive-form games do not D) in simultaneous-more games players have only two actions to choose from, but in extensive-form games the players can have more than two choices