Define Game and Nash Equilibrium Respectively


 Define game and Nash equilibrium respectively. What are the three components of a game? Consider the following game. Coca- Cola, and Pepsi are deciding on whether to compete aggressively or restrainedly. 1) if both choose to compete aggressively, the payoffs for Coca-Cola and Pepsi are 100 million and 30 million respectively. 2) if both choose to compete restrainedly, Coca-Cola and Pepsi will receive 120 million and 100 million respectively. 3) Coca-Cola chooses to compete aggressively while Peps! chooses to compete restrainedly, Coca-Cola will get 170 million and Pepsi will only get 40 million, 4) If Coca-Cola chooses to compete for restrainedly but Pepsi chooses to compete aggressively, Coca-Cola will get 80 million and Pepsi will only get 140 million Identity all Nash Equilibria for this game.

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