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Two firms in a local market compete in the manufacture of cyberwidgets. Each firm must decide if ...

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Two firms in a local market compete in the manufacture of cyberwidgets. Each firm must decide if ...

Two firms in a local market compete in the manufacture of cyberwidgets. Each firm must decide if they will offer a warranty or not. The pay-offs of each firm's strategy is a function of their competitor as well. The pay-off matrix is presented below.

Does either player have a dominant strategy? Does the game have any Nash equilibria? What is the maximin strategy of each player in the game? Should the players use a mixed strategy?

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Microeconomics

Edition: 8^th

Author: Pindyck

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boransal

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nakungth Author

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6 years ago

A+ answer, ty

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