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l. The payoff table below represent the four possible prot outcomes for nnl and rm 2, if each rm pursues the strategyr described at the

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l. The payoff table below represent the four possible prot outcomes for nnl and rm 2, if each rm pursues the strategyr described at the top of each column 1 and the start of each row. The rst payoff in each cell corresponds to rm 1's prots and the second payoff in each cell corresponds to rm 2's payoffs. Assume this is a simultaneous game. Firm 2 Small output a. Indicate clearly what is rm 1's dominant strategy using the actual numerical payoffs in the table above. (eg. don't answer just small or large-justify in each case with the actual numbers in the table] b. Indicate clearly what is rm 2's dominant strategy using the actual numerical payoffs in the table above. (eg. don't answer just small or large-justify in each case with the actual ntunbers in the table} c. How does the prisoner's dilemma game depicted above display features we tend to observe in real world oligopolies'? Explain clearly referencing the actual payoffs in the above table

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