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Business, 12.08.2020 07:01 mrsrobinson1014

Suppose two firms are in a game situation, and they each must decide on a strategy regarding whether to select a high price or a low price. Profits for a firm are highest when it selects a low price, while the other selects a high price; profits are lowest if one selects a high price, while the other selects a low price; profits are in between when both select low prices; and profits are slightly higher when both select high prices. In the absence of collusion we expect:

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Suppose two firms are in a game situation, and they each must decide on a strategy regarding whether...
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