Game theory is "the study of mathematical methods of conflict and cooperation between intelligent rational decision-makers". Some applications of Game theory include, the study of oligopolies, the study of cartels and the study of military strategies. Address the following  with suitable examples.  (a)How Nash Equilibrium is achieved under Game Theory. (b)Find Nash Equilibrium in case of first-mover strategy. (c)Give some examples of games with two Nash Equilibriums?

ENGR.ECONOMIC ANALYSIS
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Game theory is "the study of mathematical methods of conflict and cooperation between intelligent rational decision-makers". Some applications of Game theory include, the study of oligopolies, the study of cartels and the study of military strategies.

Address the following  with suitable examples. 

(a)How Nash Equilibrium is achieved under Game Theory.

(b)Find Nash Equilibrium in case of first-mover strategy.

(c)Give some examples of games with two Nash Equilibriums?

(d)Explain the concept of Nash Equilibrium in case of Non-Cooperative Games.

(e)How expected Nash Equilibrium would be achieved in case of game with no Nash Equilibrium?                      

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