Question: Consider the following payoff matrix. Player 2 C D A 3,0 2,3 Player 1 B 0, 5 4, 2 a. What is the pure strategy

Consider the following payoff matrix. Player 2 C D A 3,0 2,3 Player 1 B 0, 5 4, 2 a. What is the pure strategy Nash Equilibrium? (You may select multiple options. There is a penalty for incorrect selections, so selecting all options will not get you full credit unless all options are correct.) Answer: (A, C) (B, C) (A, D) (B, D) There is no Nash equilibrium in Pure strategies. b. b. 1. What is the mixed-strategy Nash equilibrium? TYPE YOUR ANSWERS BELOW IN FRACTION FORMAT (e.g. write 1/2 rather than 0.5 or other representations; do not insert space). DO NOT USE PARENTHESES OR QUOTATION MARKS, JUST TYPE IN THE CORRESPONDING PROBABILITY IN FRACTION FORMAT. Answer: At the mixed strategy Nash equilibrium, Player 1 plays A with probability and B with probability : Player 2 plays C with probability and D with probability b. ii. What is the probability that the outcome of the game will be (A C)

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