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The following matrix shows the payoffs for a simultaneous-move one-shot advertising game between Firm A and Firm B. The firms can choose to advertise or to not advertise. Numbers in the matrix represent profits (in millions of dollars).
Company B
Advertise
Don't Advertise
Company A
A. $10, $5
B. $15, $0 Don't Advertise
C. $6, $8
D. $10, $2
a. Does either firm have a dominant strategy?
b. What is the Nash equilibrium (if any)?
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