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13. Twofirmsareinthechocolatemarket.Eachcanchoosetogoforthehighendofthemarket (highquality)orthelowend(lowquality).ProfitsaregivenbythepayoffmatrixinFigure3. What outcomes, if any, are Nash equilibria? Figure 3 Firm 2

13. Twofirmsareinthechocolatemarket.Eachcanchoosetogoforthehighendofthemarket

(highquality)orthelowend(lowquality).ProfitsaregivenbythepayoffmatrixinFigure3.

What outcomes, if any, are Nash equilibria?

Figure 3 Firm 2

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