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Business, 02.04.2021 18:30 brandiwingard

Use the following payoff matrix which depicts the profits for Firms X and Y who are trying to decide whether to choose a high or low price in their competitive strategy with each other. They are the only two firms in this oligopolistic industry. Firm Y Low Price High Price Firm X Low Price Firm X's profit: $1,600 Firm Y's profit: $2,500 Firm X's profit: $1,800 Firm Y's profit: $2,100 High Price Firm X's profit: $1,800 Firm Y's profit: $2,000 Firm X's profit: $2,000 Firm Y's profit: $2,400 (Scenario 65-2: Payoff Matrix for Firms X and Y) The Nash equilibrium in this game is:.

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