Determine what is each players dominant strategy

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Reference no: EM13223209

Use the information in the following table, which summarizes the payoffs (i.e., profit) to two firms that must decide between an average
Firm 2
Average Quality High Quality
Firm 1 Average Quality 600, 600 400, 1100
High Quality 1100, 400 900, 900
a. What is each player's dominant strategy?
b. Referring to the table above, is this an example of a prisoner's dilemma game? Why or why not?
c. Is there a Nash equilibrium? If so, what is it?

Reference no: EM13223209

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