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Question: 4 20 answer the following a 4 explain the difference...

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4. [20] Answer the following. (a) [4] Explain the difference between a strategy that is a best response versus a strategy that is strictly dominant. (b) (6) Consider the following game: player 2 D E F G A 3,7 7,3 1,2 4,3 player 1 B 89 8,5 2,8 5,2 C | 0.10 | 7.0 | 1.9 | 2.2 Find the strictly dominant strategies solution and the iterated elimination of strictly dominated strategies solution, if any. (c) [10] Consider the following game: player 2 L C R T İ 10,4 | 1,2 1,0 player 1 M 6,4 2,0 3,0 B 9,0 3,3 4,8 Find all the Nash equilibria (including mixed strategy ones).
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