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Author Question: The above figure shows the payoff to two airlines, A and B, of serving a particular route. If the ... (Read 253 times)

futuristic

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on: Jun 18, 2019


The above figure shows the payoff to two airlines, A and B, of serving a particular route. If the two airlines must decide simultaneously, which one of the following statements is TRUE?
◦ Firm A does not have a dominant strategy.
◦ Firm B does not have a dominant strategy.
◦ Neither firm entering is a Nash equilibrium.
◦ The outcome of the game is unpredictable.
Microeconomics ¦ Perloff ¦ 8th Edition
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Jmfn03

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Reply #1 on: Jun 18, 2019
Firm B does not have a dominant strategy.


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futuristic

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Reply #2 on: Jun 18, 2019
Thanks


Jmfn03

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Reply #3 on: Jun 18, 2019
Welcome :)


clippers!

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Reply #4 on: Jun 18, 2019


The above figure shows the payoff to two airlines, A and B, of serving a particular route. If the two airlines must decide simultaneously, which one of the following statements is TRUE?
◦ Firm A has a dominant strategy.
◦ Firm B has a dominant strategy.
◦ Neither firm entering is a Nash equilibrium.
◦ The outcome of the game is unpredictable.


lin77x

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Reply #5 on: Jun 18, 2019
Firm A has a dominant strategy.


deesands

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Reply #6 on: Jun 18, 2019


The above figure shows the payoff to two airlines, A and B, of serving a particular route. If the two airlines must decide simultaneously, which one of the following statements is TRUE?
◦ Only firm A will enter the market.
◦ Only firm B will enter the market.
◦ Neither firm entering is a Nash equilibrium.
◦ The outcome of the game is unpredictable.


wfdfwc23

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Reply #7 on: Jun 18, 2019
Only firm A will enter the market.


deesands

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Reply #8 on: Jun 18, 2019
Thank you!


wfdfwc23

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Reply #9 on: Jun 18, 2019
Always glad to help...


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