Bernie and Leona were arrested for money laundering and were interrogated separately by the phone. Bernie and Leona were each presented with the following independent offers. If one confesses and the other doesn’t, then who confesses goes free and the other will receive a 20-year prison sentence; if both confess, each receives a 10-year prison sentence; and if neither confesses, each will only receive a 2-year prison sentence.a. Use the above information to construct a payoff matrix for Bernie and Leonab. Does either Bernie or Leona have a dominant strategy? Why or why not?c. Does a Nash equilibrium exist? Why or why not?

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