Look at the attached table. A.  What are the Nash equilibrium to this game (if there are any)? B.  Are any of the Nash equilibrium efficient?  If yes, which one(s)? If any are inefficient, explain why.

Managerial Economics: A Problem Solving Approach
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ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
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Look at the attached table.

A.  What are the Nash equilibrium to this game (if there are any)?

B.  Are any of the Nash equilibrium efficient?  If yes, which one(s)? If any are inefficient, explain why.

Player 1
Up
Middle
Down
Left
P1: $45
P2: $45
P1: $15
P2: $65
P1: $62
P2: $0
Player 2
Middle
P1: $43
P2: $43
P1: $57
P2: $2
P1: $83
P2: $0
Right
Pl: $0
P2: $56
Pl: $0
P2: $68
P1: $1
P2: $1
Transcribed Image Text:Player 1 Up Middle Down Left P1: $45 P2: $45 P1: $15 P2: $65 P1: $62 P2: $0 Player 2 Middle P1: $43 P2: $43 P1: $57 P2: $2 P1: $83 P2: $0 Right Pl: $0 P2: $56 Pl: $0 P2: $68 P1: $1 P2: $1
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