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Consider the following two person game. Player 2 Player 1 1. Find all the pure strategy equilibria of this game. (4 marks) 2. Graph the
Consider the following two person game. Player 2 Player 1 1. Find all the pure strategy equilibria of this game. (4 marks) 2. Graph the best reply correspondences for each player and mark on the graph all the mixed strategy equilibria, including the ones that are equivalent to pure strategy equilibria. Label your diagram completely. labelling the axes, any relevant values on each axis, and clearly indicating which is the graph of the best reply correspondence of Player 1 and which of Player 2. Make 2 3 without clearly saying what p is. Carefully explain how your graph was con sure that your notation is clearly explained. For example, do not write p : structed. that is. Why each hest reply correspondence takes the values it does for each strategy of the other player. If the graph changes at some particular value of the other player's strategy show how that value was calculated. Be as neat and accurate as you can, Please use a ruler to draw straight lines and to measure distances. [Hint Make sure that your diagram is consistent with your answer to Part (1)] (16 marks)
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