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Business, 30.07.2019 22:00 dbrwnn

Consider a market with two firms, target and wal-mart, that sell cds in their music department. both stores must choose whether to charge a high price ($3030) or a low price ($1313) for the new miley cyrus cd. these price strategies with corresponding profits are depicted in the payoff matrix to the right. target's profits are in red and wal-mart's are in blue. target's dominant strategy is to pick a price of $ 1313. wal-mart's dominant strategy is to pick a price of $ 1313. what is the nash equilibrium for this game? a. the nash equilibrium is for target and wal-mart to both choose a price of $3030. b. the nash equilibrium is for target and wal-mart to both choose a price of $1313. c. the nash equilibrium is for target to choose a price of $3030 and wal-mart to choose a price of $1313. d. a nash equilibrium does not exist for this game. e. the nash equilibrium is for target to choose a price of

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Consider a market with two firms, target and wal-mart, that sell cds in their music department. both...
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