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Author Question: Joe and Steve are duopolists who each can follow two strategies: cooperate and jointly act like a ... (Read 38 times)

melina_rosy

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on: Jul 20, 2019
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?
Microeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 8th Edition
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Marked as best answer by melina_rosy on Jul 20, 2019

ong527

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Reply #1 on: Jul 20, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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melina_rosy

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Reply 2 on: Jul 20, 2019
:D TYSM

marict

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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