Ask Question
18 October, 01:03

Answer this question based on the following payoff matrices for a repeated game involving two firms that are considering introducing new products to the market. The numbers indicate the profit from following either a strategy to introduce a new product or a strategy to not introduce a new product.

+3
Answers (1)
  1. 18 October, 04:14
    0
    The national strategy is the dominant strategy for both firms.

    Explanation:

    In a market system, the best strategy for profit optimization is the one that leads to the maximization of profit. The two firms will definitely consider different options and compare the net profits for all the strategies. Based on the net profits of the strategies, the firms will decide on the best strategy that is the national strategy.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Answer this question based on the following payoff matrices for a repeated game involving two firms that are considering introducing new ...” 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