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Dominant Strategy

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Dominant Strategy (see attached document). Thank you.

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1) Is there a dominant strategy for Firm 1? If so, what is it?
Firm 1's dominant strategy is choosing $4, because its profit will always be higher than ...

Solution Summary

Is there a dominant strategy for Firm 1? If so, what is it?

Is there a dominant strategy for Firm 2? If so, what is it?

Is there Nash equilibrium? If so, what is it?

$2.19