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Author Question: Firm 2High PriceLow PriceFirm 1High PriceFirm 1 earns $100; Firm 2 earns $100Firm 1 earns $25; Firm ... (Read 91 times)

jc611

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on: Jul 21, 2019
                                                                   
​​Firm 2​
​​High PriceLow Price
Firm 1High PriceFirm 1 earns $100; Firm 2 earns $100Firm 1 earns $25; Firm 2 earns $150
​Low PriceFirm 1 earns $150; Firm 2 earns $25Firm 1 earns $50; Firm 2 earns $50

Table 12.2


In the game shown in Table 12.2, when the firms choose their dominant strategies:
◦ the firms will have an incentive to choose the other strategy in the next round.
◦ the firms will make the highest profit.
◦ profits are lower than when the firms choose the strategy that is not the dominant strategy.
◦ it is evidence that the firms are implicitly or explicitly fixing prices.
Microeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 8th Edition
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Marked as best answer by jc611 on Jul 21, 2019

nital

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Reply #1 on: Jul 21, 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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jc611

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Reply 2 on: Jul 21, 2019
Thanks for the timely response, appreciate it

sarah_brady415

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

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