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Question 2 (20 points): Please fully explain your answer and clearly state if the statements are true or false. Points are awarded based on explanations. 1.(4 points) In a twoplayer game, a Nash equilibrium is the outcome that maximizes the sum of the players' payoffs. (you have one paragraph) 2.(4 points) In a Nash equilibrium in a two-player game, both players must have selected a dominant strategy. (you have one paragraph) 3.(4 points) Repeatedly playing the Prisoner's Dilemma may or may not result in a cooperative solution. (you have one paragraph) 4.(4 points) In the models of oligopoly considered in the recorded lectures, the equilibrium price will be strictly lower if there are n + 1 firms than if there are n firms. (you have one paragraph) 5.(4 points) In the models of oligopoly considered in the recorded lectures, consumers are no better off than in a perfectly competitive market. (you have one paragraph)