Business, 21.04.2020 04:20 demetriusmoorep36146

Two oligopolists have to decide on their pricing strategy. Each can choose either a high or a low price. If they both choose a high price, each will make $12 million, but if they both choose a low price, each will make only $8 million. If one sets a high price and the other a low one, the low-priced firm will make $16 million, but the high-priced firm will make only $4 million.
In the absence of collusion, each will .

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