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In a one-shot game, if you advertise and your rival advertises, you will each earn RM5 million in profits. If neither of you advertises, your rival will make RM4 million and you will make RM2 million. If you advertise and your rival does not, you will make RM10 million and your rival will make RM3 million. If your rival advertises and you do not, you will make RM1 million and your rival will make RM3 million.
a. Write the above game in matrix table.
b. Do you have a dominant strategy?
c. Does your rival have a dominant strategy?
What is Managerial economics according to McGutgan and Moye McGutgan and Moyer: "Managerial economics is the application of economic theory and methodology to decision-making
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howw much should the firm produce to maximize its profits
Assume that Nicolas and Orson plan to sell soft drinks on a beach this summer. The beach is 400 meters long and sunbathers are spread evenly across its length. Nicolas and Orson se
determination of size of firm
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Factors influencing Exchange Rates i. Inflation: Other things being equal, a country experiencing a high rate of inflation will experience a lower demand for its goods whil
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