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The New York Times reports that Wal-Mart has decided to challenge Netflix and enter the online DVD by mail market. Because of economies of scale, Wal-Mart has a slight cost advantage relative to Netflix. Wal-Mart is considering the use of a limited pricing strategy. They can enter the market by matching Netflix on price. If they do, and Netflix maintains its price, then both firms would earn $5 million. But, if Netflix drops its price in response, then Wal-Mart would have to follow and Wal-Mart would earn $2 million and Netflix $3 million. Or, Wal-Mart could enter the market with a price that is below Netflix's current price, but above Wal-Mart's marginal cost. If it does, Wal-Mart will earn profits of $0 million and Netflix will earn profits of $2 million. Or it could keep its present price. If Netflix keeps its present price, then Wal-Mart will either keep its present price and earn $6 million (while Netflix earns $4 million). Or, Wal-Mart will increase its price and earn $2 million, while Netflix would earn $6 million.
a. Draw the game tree and solve it.b. Draw the game's payout matrix form and identify any Nash equilibrium(s).
make a paragraph in which you discuss market trends that McDonald's will face. Explain your conclusions. In your paper address how each of the following will change or will not change, and why.
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Graph the q = 100 isoquant. Indicate the points on that isoquant de.ned in part a and part b. What is the RTS along this isoquant? Explain why the RTS is the same at every point on the isoquant. So i know that my labor for part A is 80, labor for ..
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