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Consider the game where Player 1 plays A , B , C , D; and Player 2 plays R , Q , S , T
Consider the game where Player plays A B C D; and Player plays R Q S T with the following
payoffmatrix:
R Q S T
A
B
C
D
With reference to the matrix above, answer the following questions:
Identify with justification, if any, the pairs that are in Nash equilibrium.
State whether any outcomes are Pareto optimal. Justify your answer.
Identify with justification, if any, the pairs that maximizes the social welfare.
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