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Assume you are one of two manufactures of tennis balls. Both you and your competitor have zero marginal costs. Total demand for tennis balls is
P = 60 - QWhere Q = the sum of the outputs of you and your competitor.
a) Assume you are in this situation only once. You and your competitor have to announce your individual outputs at the same time. You expect your competitor to choose the Nash equilibrium strategy. How much will you choose to produce and what is your expected profit?
b) Now Assume that you have to announce your output before your competitor does. How much will you choose to produce? What is your expected profit? Is it an advantage or a disadvantage to move first? Explain.
It costs each company Brokely $3,000 per period to use filters that avoid polluting the lake. However, each company must use the lake's water in production
In a two player, one shot simultaneous move game each player can select strategy A or B. If both players select strategy A, each receives a payoff of $500.
he two leading United State manufacturers of high performance radial tires must set their advertising strategies for coming year. Each company has two strategies available:
Assume that the companies in an oligopolistic market engage in a price war and, as a result, all companies earn lower profits. Game theory would describe this as what?
Pertaining to the matrix need simple and short answers, Find (a) the strategies of the firm (b) where will the firm end up in the matrix equilibrium (c) whether the firm face the prisoner’s dilemma.
In the summer ECMBA has a group assignment. Students are assigned to two person groups that have to make a 25 point paper applying game theory to competitive strategy.
Figure 10-13 demonstrate the payoff matrix for the only 2-auto dealerships in a community, Jim's Autos and Tim's Autos. The matrix demonstrate the profits that each company would earn from selecting either a low price or a high price.
Suppose that the MBA education industry is constant cost and is in long run equilibrium. Demand raise, but due to strict accreditation standards, new companies are not allowed to enter the market.
Suppose two companies, A and B, that produce super computers. Each can manufacture the next generation super computer for math or for chip research.
Determine the solution to the given advertising decision game between Coke and Pepsi, assuming the companies act independently.
Following is a payoff matrix for Intel and AMD. In each cell, 1st number refers to AMD's profit, while second is Intel's.
The market for olive oil in new York City is controlled by 2-families, Sopranos and Contraltos. Both families will ruthlessly eliminate any other family that attempts to enter New York City olive oil market.
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