PLEASE PROVIDE EXPLANATION TO ANSWER AND HAVE CLEAR HANDWRITING

4_ At a time when cereal maker Kellogg's demand for ready-to-eat cereal was stagnant, a spokesperson for the cereal maker Kellogg: s was quoted as saying, for the past several years: our individual company grove-th has come out ofthe other fellow's hide." Kellogg's has been producing cereal since 1906 and continues to implement strategies that make it a leader in the cereal industry _ The payoff matrix for Kellogg and its rival to advertise or "don't advertise" is given below Advertise Kellogg Don't Advertise Kellogg 's Rival Achertise (_4:52) Don't Advertise (12, 12) (a) If this were a simultaneous move one shot game, what would the Nash equilibrium outcome be? Please explain (b) Assuming that the game is still played once: if the finns could collude, what would the outcome be, assuming that they made a collusive agreement and followed the agreement. Please explain. (c) Now suppose the game is infinitely repeated Ifthe interest rate is 35 percent, can you do better in the infinitely repeated game with a trigger strategy than you could in a one-shot play of the game? Explain