13. Suppose that Muber is currently the only firm providing rideshares, but a second firm, Wyft, is...
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13. Suppose that Muber is currently the only firm providing rideshares, but a second firm, Wyft, is considering entering the market. Prior to learning what Wyft will do, Muber must decide whether to make a costly investment to improve its own product. The decision tree for this game is diagrammed below, with the payoffs assumed to be the ones shown.
What is the equilibrium outcome of this game?
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