Question Two (10 Marks) The idea of game theory was developed by Nobel prize winning economist Philip nash.it is a way of analyzing decision situations and its mainly used for situations in which where two or more decision makers interact, the decision maker faces a series of options each of which leads to pay offs with certain probabilities.it can sometimes clarify the situations and decide upon optimal course of action. a) Using relevant examples demonstrate how game theory is applicable in managerial decision making. (4marks) b) Explain the benefits of using game theory in analyzing different situations. (4marks) c) Critically analyze limitations of the theory as a viable concept in decision making. (2marks)