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2 * There are two political parties I and 2 competing to win the election. the value of winning the election is v Let R,
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* There are two political parties I and 2 competing to win the election. the value of winning the election is v Let R, and Ro be the campaign investment levels of firms 1 and 2 to campaign about their economic and social policies. the probability of party -1 winning the election IS and the probability of party 2 cunning the election is Notice that the sum of these probabilities is I which means that one of the political parties will win the election. Find the Nash Equilibrium campaign investments and each party optlibrium probability of winning The election . Thank you for helpStep by Step Solution
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