QUESTION 1: Game theory [25 points] This is a two-player, simultaneous one-move game represented as a game table (normal form).

a) What is the pure strategy Nash equilibrium outcome if there is one? [5 points]

b) Is this a socially optimal outcome? If not, which outcome is preferred? [5 points]

c) Does all three solution approaches for simultaneous games work independently (not together)? If not, which do not? [5 points]

d) Draw the game as a game tree (extensive form). [5 points]

QUESTION 1: Game theory |25 points| This is a twoplayer, simultaneous one-move game represented as a game table (normal form). (11,16) (15, 4) (3,16) (2, 10) (13, 9) (20, 5) (6, 9) (20, 8) (3, 7) (10, 20) (2,12) (1,17)