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2 enterprises (1 and 2), are in competition with each other by choosing advertising expenditures. The payoff functions of the two enterprises, if enterprise 1 chooses to spend x and enterprise 2 chooses y to spend in market 1, are given by
u1 (x; y) = 1 + (x - y) (2 - 3x)u2 (x; y) = 1 + (y - x) (1 - 3y)
a) What is the best response functions of enterprise 1 and enterprise 2.
b) Suggest the Nash equilibrium levels of expenditures by each enterprise?
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Riverside Oil Company in eastern Kentucky produces 3 different grades of gasoline. They are regular, premium, and supreme grades. Each barrel of regular grade sells for $82 while p
HOW TO CARE FOR A TODDLERn #Minimum 100 words accepted#
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Introduce a new special form of insurance for current business operating on a global scale with a diverse work force, which includes virtual employees.
describe stores management and its function
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