Question 2-In not more than four to five lines for each, explain if the following statements are true or false (write 'true' or 'false' and then explain)

i. Tit-for-tat strategy can induce cooperation in a finitely repeated game.

ii. A Nash equilibrium is always a dominant strategy equilibrium.

iii. Excessive capacity cannot make threats credible; one needs to have contracts.

iv. A constant sum game can be converted into zero sum game by adding a fixed number in the pay-offs of both players.

v. Even if players are altruistic, the prediction made by the model of 'tragedy of commons' will still prevail.