Business, 08.07.2021 21:40 mamieengler
The following payoff matrix represents the long-run payoffs for two duopolists faced with the option of buying or leasing buildings to use for production.
(A) Determine whether any dominant strategies exist and state what it is
(B) determine whether or not there is a Nash equilibrium and state what it is.
Firm 1 Firm 1
Lease Building Buy Building
Firm 2 Lease F1 = 500, F2 = 400 F1 = 750, F2 = 400
Firm 2 Buy F1 = 400, F2 = 750 F1 = 200, F2 = 600
Answers: 1
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The following payoff matrix represents the long-run payoffs for two duopolists faced with the option...
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