Two students: A & B have been assigned to a team project.

Use the following scenarios to construct a payout matrix on your own to answer the questions below. (You are not required to draw the matrix and submit it as part of your answer; however, the matrix is critical to solve the problem)

Scenarios:

a. If one works and one shirks (not fulfilling his/her share of workload), they will both achieve average grade. The worker earns 2 and the shirker earns 8;

b. If both work; they will achieve above average grade and both earn 6;

c. If both shirk; they will achieve below average grade and both earn 4.

What is the dominant strategy for each player?

Based on their dominant strategy, what would be the most likely outcome (Nash Equilibrium) of the project.