Suppose that the University of Alabama and Clemson are making spending decisions for the upcoming year. Assume that Alabama is currently spending $15 million on their recruiting and facilities, and...

Suppose that the University of Alabama and Clemson are making spending decisions for the
upcoming year. Assume that Alabama is currently spending $15 million on their recruiting and
facilities, and Clemson is spending $10 million. Each team has an additional $5 million to spend
or keep as profits. If they both choose to not spend the additional $5 million then Alabama has
a 60% chance of getting the highest quality quarterback recruit to commit to them (getting the
commitment of the player is the goal). However, if they both choose to spend the additional $5
million then there is a 57% chance that Alabama gets the high quality quarterback to commit. If
Alabama spends the additional $5 million but Clemson doesn’t then there is a 67% chance
Alabama gets the recruit. However, if Alabama does NOT spend the additional $5million but
Clemson does then there is a 50% change either team gets the recruit’s commitment. Setup the
payoff matrix and label the players, their strategies, and their payoffs, and identify the
equilibrium(s) of this “game”.