1. Two friends plan outing to spend time together. Friend-A likes Cricket Match and Friend-B likes...

 

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1. Two friends plan outing to spend time together. Friend-A likes Cricket Match and Friend-B likes an Art exhibition. If both of them reach at cricket ground the Friend-A have 7 points and Friend-B have 3.5 points. If both friends reaches at the place they like but they don't have company of each other the both have 1 point, while on the other hand if both reaches at the place they don't like and don't have each others company as well they both get -1 point. If both reaches at an art exhibition, Friend-A have 3.5 point and Friend-B have 7 points. a. Design Payoff Matrix and write it in braces b. Write Nash Equilibrium c. Write pareto optimal outcomes (7.5 Points) Enter your answer 1. Two friends plan outing to spend time together. Friend-A likes Cricket Match and Friend-B likes an Art exhibition. If both of them reach at cricket ground the Friend-A have 7 points and Friend-B have 3.5 points. If both friends reaches at the place they like but they don't have company of each other the both have 1 point, while on the other hand if both reaches at the place they don't like and don't have each others company as well they both get -1 point. If both reaches at an art exhibition, Friend-A have 3.5 point and Friend-B have 7 points. a. Design Payoff Matrix and write it in braces b. Write Nash Equilibrium c. Write pareto optimal outcomes (7.5 Points) Enter your answer