1.4 Two firms face the following profit matrix: Is it true that, given these profits, Firm 2...

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1.4 Two firms face the following profit matrix:

Is it true that, given these profits, Firm 2 wants to match Firm 1’s price, but Firm 1 does not want to match Firm 2’s price? Does either firm have a dominant strategy? What is the Nash equilibrium in this game? Explain.

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