1.6 Suppose Procter & Gamble (PG) and Johnson & Johnson (JNJ) are simultaneously considering new advertising campaigns....
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1.6 Suppose Procter & Gamble (PG) and Johnson &
Johnson (JNJ) are simultaneously considering new advertising campaigns. Each firm may choose a high, medium, or low level of advertising. What are each firm’s best responses to its rival’s strategies?
Does either firm have a dominant strategy? What is the Nash equilibrium in this game?
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