Q1 Name two reasons why Texas Hold'em is not a static game of complete information. Q2 Two firms compete in a duopoly. Each firm simultaneously chooses to produce either high quantity or low quantity. The higher the quantity both firms produce, the lower the price, but the more an individual firm produces, the higher their revenue. Their payoffs (profit, in millions of dollars) can be expressed by this matrix representation: Firm 2 Firm 1 High Low High 10, 10 30, 5 Low 5, 30 20, 20 a. What solution concept should we use here? b. What does your solution concept predict the players will do? c. Evaluate the outcome using the concept of pareto dominance. d. Given your answers to parts (b) and (c), what is the name for this kind of game? (Not just a static game of complete information; be much more specific)