Question: 2. Consider the following two player game: Player 2 Coo erate Cooperate Player 1 Defect 250 Defew.t. 0 25 11 Suppose that the payoffs

2. Consider the following two player game: Player 2 Coo erate Cooperate Player 1 Defect 250 Defew.t. 0 25 11 Suppose that the payoffs in the table correspond to money. For example, if player 1 chooses defect and player 2 chooses cooperate, (25,0) indicates player 1 gets $25, player 2 gets SO. Find the Nash Equilibria (NE) of the game for the following utility functions, where an is player I's monetary payoff and is player 2's monetary payoff. is the utility of player 1, is the utility of player 2. Explain why each is a NE using the definition: A NE means that given the other player's strategy I can not achieve higher utility by changing my strategy. HINT: do do But it might fable qucsEum, using OJ is of Player 2 I C'OOpTate (a) Both are selfish: +2) = (b) Both are fair: (c) I is Selfish, 2 is Fair: =

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