Martha and Oleg are competitors in a local market and each is trying to decide if it is worthwhile to advertise. If both of them advertise, each will earn a profit of $5,000. If neither of them advertise, each will earn a profit of $10,000. If one advertises and the other doesn't, then the one who advertises will earn a profit of $15,000 and the other will earn $7,000. To earn the highest profit, Martha a. should advertise, and she will earn $5,000.

b. should advertise, and she will earn $15,000.

c. should not advertise, and she will earn $10,000.

d. has no dominant strategy

d

Explanation:

Dominant strategy is the best option for a player regardless of what the other player is playing.

The payoffs for Martha if she advertises is either $5000 or $15000

if she does not advertise, it is either $10,000 or 7000

looking at these figures, there is no option that consistently yields a better option. thus there is no dominant strategy

If for example,

The payoffs for martha if she advertises is either $5000 or $15000

if she does not advertise, it is wither $3,000 or 7000

Advertising consistently yields a better option, thus her dominant strategy would be to advertise

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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