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What is meant by dominant strategy?
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- Explain the meaning of a Nash Equilibrium. How does it differ from and equilibrium in dominant strategies?What is the difference between a cooperative and a noncooperative game? Give an example of each.The following is a static game: Convert this game into dynamic form game. Find the Nash equilibrium and subgame perfect Nash equilibrium of this game. If you consider this game as dynamic then what kind of dynamic game is this.