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Player 1 draws a card at random from a full deck of 52 cards. After looking at the card, he bets either $1 or $5
Player 1 draws a card at random from a full deck of 52 cards. After looking at the card, he bets either $1 or $5 that the card he drew is a face card (king, queen, or jack, probability 3;\" 13). Then Player I] either concedes or doubles. If she concedes, she pays I the amount bet (no matter what the card was). If she doubles, the card is shown to her, and Player I wins twice his bet if the card is a face card, and loses twice his bet otherwise. (a) Draw the game tree. (b) Construct the equivalent normal form. (c) Does this game admit Nash equilibria in pure strategies? If yes, nd them
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