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Consider the following data for a simultaneous move ggiven: If you advertise and your rival advertises, you will each earn 5 million dollar in profits. If one of you advertises and the other does not, the firm that advertises will earn $15 million in profits and the other will earn $1 million. If you and your rival plan to be in business for at least 10 years, then the Nash equilibrium is(A) For each firm to advertise every year.(B) For neither firm to advertise.(C) For your firm to advertise and the other firm not to advertise.(D) Described by none of the above.
It costs each company Brokely $3,000 per period to use filters that avoid polluting the lake. However, each company must use the lake's water in production
Use the given payoff matrix for a simultaneous move one shot game to answer the accompanying questions.
Two players, Ben and Diana, can choose strategy X or Y. If both Ben and Diana choose strategy X, every earns a payoff of $1000.
Firm A and Firm B are the only competitors in market. Each has to decide what price to set for its product. Once prices are set, they cannot be changed for year. Both companies set prices at the same time.
Suppose you have been offered chance to participate in a Treasure Hunt game whose rules are as follows. There are 3-colored boxes: red, green and yellow.
A supplier and a buyer, who are both risk neutral, play the following game, The buyer’s payoff is q^'-s^', and the supplier’s payoff is s^'-C(q^'), where C() is a strictly convex cost function with C(0)=C’(0)=0. These payoffs are commonly known.
Ken and Gerard are roommates for a weekend and have succeeded in making their living quarters cluttered in very little time.
he two leading United State manufacturers of high performance radial tires must set their advertising strategies for coming year. Each company has two strategies available:
Consider the two-period repeated game in which this stage game is played twice and the repeated-game payo s are simply the sum of the payo s in each of the two periods.
Consider trade relations in the United State and Mexico. Suppose that leaders of two countries believe the payoffs to alternative trade policies are as follows:
Advanced Micro Devices declared a 10 percent price raise for certain advanced microprocessors, used primarily in video games. The processors will sell for about $1,000 compared to Intel's $950 price.
Suppose two companies, A and B, that produce super computers. Each can manufacture the next generation super computer for math or for chip research.
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