Explain clearly

7. Solving for dominant strategies and the Nash equilibrium Suppose Van and Amy are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Van chooses Right and Amy chooses Right, Van will receive a payoff of 5 and Amy will receive a payoff of 1. Amy Left Right Left 5, 4 7, 7 Van Right 4, 4 5, 1 The only dominant strategy in this game is for v to choose 7 . The outcome reflecting the unique Nash equilibrium in this game is as follows: Van chooses Y and Amy chooses V