Negotiation Between the Management and the Labor Union

A company is currently involved in negotiations with its union on the upcoming wage contract. Both the
company and the union adopt four strategies each. The outcome of the negotiation is numerically expressed
(in Rs lakh) as the following payoff matrix. The positive entries in the matrix represent wage increase while
the negative entries represent wage reduction.
Strategies of the Company
C1 C2 C3 C4
Strategies of the U1 0.25 0.20 0.14 0.30
Union U2 0.27 0.16 0.12 0.14
U3 0.35 0.08 0.15 0.19
U4 -0.02 0.08 0.13 0.00
Determine the optional strategies for the company as well as the union. What is the value of the game?