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Calculate the standard bargaining solution for the following variations of the Jerry-Rosemary example in this chapter. In each case, graph the bargaining set, find the maximized joint value, determine the players' individual values, and compute the transfer t that the players select.
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Nash equilibrium helps business in when involving the interaction of different participants. Jerry-Rosemary examples show the perfect way of bargaining. This equilibrium assess about the present and the future. The equilibrium also finds the maximum value for each participant in the game.
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