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Blue Firm Low Price High Price Low Price Y: 28 , B: 20 Y: 36 , B:26 Yellow Firm High Price Y:34 , B 30

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Blue Firm Low Price High Price Low Price Y: 28 , B: 20 Y: 36 , B:26 Yellow Firm High Price Y:34 , B 30 Y: 30 , B: 36 According to the payout matrix above, where a higher value is considered better, Only the Blue firm has a dominant strategy to pick the Low Price option Only the Yellow firm has a dominant strategy to pick the Low Price option Both firms have a dominant strategy to pick the Low Price option Only the Yellow firm has a dominant strategy to pick the High Price option Both firms have a dominant strategy to pick the High Price option Only the Blue firm has a dominant strategy to pick the High Price option Blue Firm Low Price High Price Low Price Y: 28 , B: 20 Y: 36 , B:26 Yellow Firm High Price Y:34 , B 30 Y: 30 , B: 36 In the payout matrix above, where a higher value is considered better, Y is for yellow and B is for blue. In the Nash equilibrium, the yellow firm will earn

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