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nguyenduong67 nguyenduong67
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7 years ago
Joe and Steve are duopolists who each can follow two strategies: cooperate and jointly act like a monopolist, or don't cooperate (cheat) and act like duopolists. Their profits are as follows:

If both cooperate:    both receive $1 million
If one cooperates:   cooperator receives $200,000, cheater receives $1.2 million
If both cheat:   both receive $500,000

What will they do?
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
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Quinn1981Quinn1981
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7 years ago
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nguyenduong67 Author
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7 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
zbmallo3
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Yesterday
this is exactly what I needed
novae
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2 hours ago
This site is awesome
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