Use game theory to analyze how an oligopolist selects

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Reference no: EM131035001

Suppose we want to use game theory to analyze how an oligopolist selects its optimal price. The cells of the payoff matrix show

the profit that each producer can expect to earn by pursuing a single strategy.

the strategy that a firm must pursue to earn various levels of profit.

the profit that each producer can expect to earn from every combination of strategies by the firms in the market.

the expected profits of rival firms.

Reference no: EM131035001

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