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Question 2: Player 2 X Y F 0 , 10 20 , 40 Player 1 M 10 , 30 30 , 20 The next two

Question 2: Player 2 X Y F 0 , 10 20 , 40 Player 1 M 10 , 30 30 , 20 The next two questions are based on the simultaneous strategic form game: 1. What is the Nash Equilibrium of the above game (i.e., if it is played simultaneously)? How much does player 1 earn in this equilibrium? 2. Now imagine that Player 1 plays first. Upon observing Player 1's action, Player 2 responds. What is the subgame perfect Nash equilibrium of the sequential game

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Intermediate Microeconomics

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978-0393123968

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