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Business, 25.11.2019 21:31 honey66

Power bike's advertising budget large small $20 $18 large $20 $35 speedy bike's advertising budget $35 $25 small $18 $25 refer to the payoff matrix. suppose that speedy bike and power bike are the only two bieycle manufacturing firms serving the market. both can choose large or small advertising budgets. if this is a repeated game with no cooperation or reciprocity, cell a a) is the expected outcome of this game, and it is both a nash equilibrium and a prisoner's dilemma b) is the expected outcome of this game, but it is neither a nash equilibrium nor a prisoner's dilemma. c) is the expected outcome of this game, and it is a nash equilibrium but not a prisoner's dilemma d) is not the expected outcome of this game.

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