Two firms are in the chocolate market. Each can choose to go for the high end of the market (high quality) or the low end (low quality). Resulting profits are given by the payoff matrix to the right.

Firm 1

Low High

Firm 2 Low -20, -30 900, 600

High 100, 800 50, 50

What outcomes, if any, are Nash equilibria?

Max recorded the heights of 500 male humans. he found that the heights were normally distributed around a mean of 177 centimeters. which statements about max’s data must be true? a) the median of max’s data is 250 b) more than half of the data points max recorded were 177 centimeters. c) a data point chosen at random is as likely to be above the mean as it is to be below the mean. d) every height within three standard deviations of the mean is equally likely to be chosen if a data point is selected at random.