Consider a market with two firms, target and wal-mart, that sell cds in their music department. both stores must choose whether to charge a high price ($3030 ) or a low price ($1313 ) for the new miley cyrus cd. these price strategies with corresponding profits are depicted in the payoff matrix to the right. target's profits are in red and wal-mart's are in blue. target's dominant strategy is to pick a price of $ 1313. wal-mart's dominant strategy is to pick a price of $ 1313. what is the nash equilibrium for this game?
a. the nash equilibrium is for target and wal-mart to both choose a price of $3030.
b. the nash equilibrium is for target and wal-mart to both choose a price of $1313.
c. the nash equilibrium is for target to choose a price of $3030 and wal-mart to choose a price of $1313.
d. a nash equilibrium does not exist for this game.
e. the nash equilibrium is for target to choose a price of
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Consider a market with two firms, target and wal-mart, that sell cds in their music department. both stores must choose whether to charge a ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Jocassee Furniture Manufacturing, Inc., has a division in the United States that produces and sells furniture for discount furniture stores. One type of dining room set is made in the International Division in China.
Answers (1)
A project will produce an operating cash flow of $14,600 a year for 8 years. The initial fixed asset investment in the project will be $48,900.
Answers (1)
Transanomics Corp recently issued at par value 5-year bonds with a par value of $500,000, dated January 1, 2015 and bearing an interest at an annual rate of 10% payable quarterly on March 31, June 30, September 30 and December 31st.
Answers (1)
On December 31, 2020, Blossom Inc. has a machine with a book value of $1,034,000. The original cost and related accumulated depreciation at this date are as follows.
Answers (1)
The semester project was due at 8:00 a. m. the next day and as the sun rose swiftly in the east, the team of four graduating seniors held their collective breath.
Answers (1)
New Questions in Business
Talks-A-Lot, Inc. sells cell phones to customers and expects that 10% of phones sold will be returned for repair under its warranty program. The average repair cost is $75 per phone.
Answers (1)
Stefan is having discussions with customers, product enthusiasts, and other people who engage in online discussions. Which informal process to gather insights and guide his research efforts is he engaged in? A. Asking his supervisor for input B.
Answers (1)
The time value of money reflects the fact that: a. a covenant requires the borrower to agree not to borrow any additional funds until the specified length of the current loan ... b.
Answers (1)
Decrease in inventory $ 620 Decrease in accounts payable 260 Increase in notes payable 245 Increase in accounts receivable 275 Did cash go up or down? By how much?
Answers (1)
Juwana was turned down for a car loan by a local credit union she thought her credit was good what should her first step be
Answers (1)