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Consider the following game, with payoffs expressed in dollar terms (=monetary payoffs): Game 1 U D L $10,$10 $0,$40 R $40,$0 $30,$30 (a) Suppose, first,

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Consider the following game, with payoffs expressed in dollar terms (=monetary payoffs): Game 1 U D L $10,$10 $0,$40 R $40,$0 $30,$30 (a) Suppose, first, that this game is played by two individuals, for whom u(x,y)=x, where x is the player's own monetary payoff and y is the other player's monetary payoff. Find each player's best response to each pure strategy of the other player. (b) Find all Nash Equilibria in pure strategies. (c) Does any of the two players in Game 1 have a dominant strategy? (d) Which type of game does Game 1 belong to? (e) Suppose, next, that this game is played by two individuals, for each of whom u(x,y)=x+y, where x is the player's own monetary payoff and y is the other player's monetary payoff. Draw the new payoffs matrix. Find all Nash Equilibria in pure strategies

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