Question: Let's consider a one-time game that is played simultaneously. The payoffs in the table below are profits for Coke, then Pepsi. Pepsi Don't Advertise Advertise

Let's consider a one-time game that is played simultaneously. The payoffs in the table below are profits for Coke, then Pepsi. Pepsi Don't Advertise Advertise Coke Don't Advertise $12,000 , $13,000 $10,000 , $12,000 Advertise $14,000 , $12,000 $12,000 , $10,000 a. Does Coke have a dominant strategy? Explain using numbers from the payoff matrix. Does Pepsi have a dominant strategy? Explain using numbers from the payoff matrix. (4 points) b. If the game is played simultaneously, what is the Nash equilibrium? (3 points) c. Is this game an example of a prisoner's dilemma? Explain. (4 points)

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