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Two firms at the St. Louis airport have franchises to carry passengers to and from hotels in ...

Two firms at the St. Louis airport have franchises to carry passengers to and from hotels in downtown St. Louis. These two firms, Metro Limo and Urban Limo, operate nine passenger vans. These duopolists cannot compete with price, but they can compete through advertising. Their payoff matrix is below:

a. Does each firm have a dominant strategy? If so, explain and what that strategy is.
b. What is the Nash equilibrium? Explain where the Nash equilibrium occurs in the payoff matrix.

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Microeconomics

Edition: 8^th

Author: Pindyck

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oracledarren

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More solutions for this book are available here

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corie Author

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Good timing, thanks!

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This helped my grade so much Perfect

Transonic

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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