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What is the payoff for each firm in this simultaneous game

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Reference no: EM133079519

Question - Refer to the following normal form game of price competition for questions

 

Firm B

Low Price

High Price

Firm A

Low Price

0, 0

50, -10

High Price

-10, 50

25, 25

Required -

1. Suppose that Firm A cheats, and B does not. What is A's payoff from cheating?

a. 0

b. 50

c. -10

d. 25

2. What is the payoff for each firm in this simultaneous game?

a. Both firms will earn 0

b. Firm A will earn 50 and firm B will earn -10

c. Firm A will earn -10 and firm B will earn 50

d. Both firms will earn 25

Reference no: EM133079519

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