Describe what is meant by a dominant strategy

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Q. Advertising 2, 30 25, 25 Entries in payoff matrix are profits. Buy-Right's profit is before comma, Acme's is after comma.

A. Describe what is meant by a dominant strategy?

B. Given payoff matrix above, does each firm have a dominant strategy?

C. Under what circumstances would re be no dominant strategy for one or both firms?

Reference no: EM1372283

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