Business, 27.06.2019 21:00 andy5843

Suppose that under armor and nike are the sole producers of a particularly comfortable athletic shoe. the two firms currently charge the same price for their products. if neither firm reduces the price of its particularly comfortable athletic shoe, each firm earns $40 million in profit. if both firms reduce their prices, then each firm will earn $9 million in profit. if one firm reduces its price and the other does not, then the firm that reduces price will earn a profit of $60 million while the other firm will earn a profit of $2 million. assuming that collusion is not a possibility, the nash equilibrium occurs when choose one: o a. nike will reduce its price and under armor will maintain its current price ● b. both firms will reduce their price. ● c. under armor will reduce its price and nike will maintain its current price d. both firms will maintain their current price.

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