Please provide answers to b(iii) and (c) step by step

1. Static and Dynamic Game. [28 marks.] Consider the following 2-by-2 game: 2 C D A (1, 10) (1, 1) B (2, a) (0, 1)(b) Now, consider the dynamic game in which player 1 moves before player 2, and the payoffs remain unchanged. i. [3 marks.] Draw the game tree for this dynamic game. What are the possible strategies for each player? Recall that a strategy prole for a player not at the initial node of the game tree must specify an action for the player at every node. ii. [2 marks.] Find the backward-induction solution(s) to this game. iii. [3 marks.] Calculate the equilibrium payoffs for each player. Com- pared to the simultaneous game, is there a rstmover advantage or a secondmover advantage