Consider two individuals Venu (V) and Bhavani (B). V can either choose v1 or V₂ and B can either choose b1 or b2. Their payoff matrix is given as below. V V1 V2 B b₁ (1,2) (0,3) b2 (2,1) (-1,0) Find out the best response functions of V and B. Find out all the Nash equilibria (both pure and mixed strategies) using the best response function. Can you explain the game using a game tree?
