Question 1
Refer to the information provided in Table 14.5 below to answer the question that follows.
Refer to Table 14.5. If both firms follow a maximin strategy, the equilibrium in the game is ________.
◦ (Advertise, Advertise)
◦ (Don't Advertise, Don't Advertise)
◦ (Don't Advertise, Advertise)
◦ (Advertise, Don't Advertise)
Question 2
Refer to the information provided in Table 14.6 below to answer the question that follows.
Refer to Table 14.6. Firm Aʹs dominant strategy is
◦ to advertise.
◦ to not advertise.
◦ dependent on what Firm B does.
◦ indeterminate from this information, as no information is provided on Firm Aʹs risk preference.
answer only
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