Explain the implication of the equilibrium

Reference no: EM132145554

Question: a. Find the Nash equilibrium (and also explain how you come up with this equilibrium)

b. Explain the implication of this equilibrium with regard to its stability and its role as an efficient allocator of resources.

c. What are the benefits and shortcomings of this game model in analyzing the real world cartel's?

Reference no: EM132145554

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