Discuss main motivations to use the Nash Equilibrium as a solution concept.

This is game theory question/ Quantity Competition and Nash Equilibrium. There are two pictures below. One has the question and the other one includes the answer. I need step by step solution to how they came up with numbers shown in the solution. Thank you

Economics Alpha and Beta are the only firms selling gyros in the upscale town of Delphi. Each firm must decide on whether to offer a discount to students to compete for customers. If one firm offers a discount but the other does not then the firm that offers the discount will increase its profit. The figure shows the payoff matrix for this game. Alpha Offer Don't offer Alpha eams S60,000 Alpha eams $20,000 What is the Nash equilibrium in this game? Offer Bota earns $60,000 Bota earns $100.000 O A. There is no Nash equilibrium Beta Alpha earns $100.000 Alpha earms $80,000 O B. Beta offers a student discount but Alpha does not Don't OC. Both Alpha and Beta offer a student discount Beta eams $20,000 Beta earns $80,000 offer O D. Alpha offers a student discount but Beta does not

Identify a real-world situation in which you see game theory/strategic behavior in action. Explain the game: Who are the players ? What are the strategies they have at their disposal? How are payoffs determined? What, if any, is the Nash equilibrium? Note, this article from Up Journey might help you come up with an example: https://upjourney.com/game-theory-examples-in-real-life

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

Player 2 Left P1: $40 Player 1 Up P2: $0 P1: $44 Down P2:$44 In the game shown above, list all of the EFFICIENT Nash Equilibrium (please check ALL that apply) (up, left) (up, right) (down, left) (down, right) No efficient Nash Equilibrium Right P1:$1 P2: $1 P1: $0 P2: $40

Cooperative Games - Game Theory

What term refers to the optimal action that a player can take, regardless of the opponents' actions? Oa Nash strategy a payoff strategy a cooperative strategy a dominant strategy

For the game below, find any Nash equilibrium. Show your work and report any Nash equilibrium strategies.

Find Nash equilibrium using cell by cell inspection