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    Dominant strategy, nash equilibrium in this game

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    1. Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn't matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt.
    Driver 2
    Left Right
    Driver 1 Left 0,0 -1000 -1000
    Right -1000, -1000 0,0

    a. Does either player have a dominant strategy? Explain.
    b. Is there a Nash equilibrium in this game? Explain
    c. Why is this game called a cooperative game?

    2. What is the significance of the mutual interdependence among the firms in an oligopoly market?

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    Solution Summary

    Mutual interdependence among the firms in an oligopoly market is emphasized.