Game Theory Assignment Instructions: Do all these questions with paper and pencil and upload the images to Canvas. Show all your work for full marks. (Worth 5 points) 1. Consider the following game: Burger King Low Price Status Quo Heavy Advertising Low Price 60,35 65, 20 55, 45 McDonalds Status Quo 40,40 60, 40 45, 55 Heavy Advertising 55, 45 60, 30 60, 40 a) Who are the players in the game? b) What strategies are available to Burger King? c) If McDonalds chooses \"Status Quo\" and Burger King chooses \"Heavy Advertising\" then what is McDonald's payoff? d) Find each player's dominant strategy, if any. e) Isthere a pure Nash equilibrium? If yes, what is it? 2. Toyota Large Small Don't expand Large 0,0 12,8 18,9 Honda Small 8,12 16,16 20,15 Don't expand 9,18 15,20 18,18 a) Are there any dominated strategies? b) What is the Nash equilibrium? 3. c (8,8) a P1 d (7,7) a) What is the subgame i (4,11) perfect Nash equilibrium? P2 (9,12) Page ZooM +