Show transcribed image textThe game of Friend or Foe is one in which two players must decide how to divide a trust fund of money. The division of winnings depends on the players’ choices whether they choose Friend or Foe. If both players choose Friend, then the money is divide…View the full answerTranscribed image text: The Friend or Foe game works as follows. Given a trust fund of money, two players must decide how the money is to be divided. The division of winnings depends on the players’ choices whether they choose Friend or Foe. If both players choose Friend, then the money is divided equally. If one player chooses Friend and the other Foe, the person who chose Foe receives the entire amount, leaving the other player with nothing. If both players choose Foe, then each walk away with nothing. The payoffs from a $48 trust fund are illustrated in the figure on the right for you and your friend, Enver. Suppose you and Enver value fairness. Both of you would consider it unfair to pick Foe and receive the entire trust fund of money if your teammate picks Friend. Your (and Enver’s) best strategy will be to pick Friend if your disutility from being unfair is greater than at least $. (Enter your response as an integer.) Friend You Foe Friend You: 24 Enver: 24 You: 48 Enver: 0 Enver Foe You: 0 Enver: 48 You: 0 Enver: 0 C
