1. Consider the following interaction between a single long lived firm, and a sequence of short-lived consumer. In each period t = 1, 2..., there is a single consumer who only lives for one period. The consumer must choose between the actions BUY and NOT BUY (i.e. B and N). The firm must choose what quality level to provide, i.e. it must choose between H and L. The payoffs to the two parties are given by the following table, where UH > p > VL and p > CH > CL. H L B VH - P, P - CH VL - P, P CL 0,0 0, 0 a) Solve for the Nash equilibria of the above stage game. b) Suppose that the firm discounts payoffs at rate d, where 0