Question 4 (1 point) I: If a Nash Equilibrium exists which of the following is (are) true 0 only one of the players has a dominant strategy 0 each player is playing their best strategy, gm the other players actions 0 none of the above Question 5 (1 point) I: A "prisoner's dilemma" game is one in which Q There is no equilibrium 0 The strategies that are in the players collective best interest is also in the players individual best interest 0 The actions in the individual best interest of the players and in conict collective welfare Question 1 (1 point) _Il Which of the following is NOT one of the "three basic elements of a game"? 0 Players 0 Referee 0 Strategies 0 None of the above answers is correct (since each of these three is one of the "three basic elements of a game"). Question 2 (1 point) _II Consider the two player simultaneous move game illustrated below: Player 2 0 "Both Player 1 and Player 2 have a dominant strategy.\" Player I 0 "Player 1 has a dominant strategy, but Player 2 does not." 0 \"Neither Player 1 nor Player 2 has a dominant strategy." Question 3 (1 point) I: Consider the two player simultaneous move game illustrated below: Player 2 If Player 1 were to choose "A," then the "best reply" for Player 2 would be 0 to also choose "A" O to choose "B" O to choose "C" O to choose "D"