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Consider following payoff matrix for two firms Firm 2 High Price Firm 1 High Price 34,60 Low Price 75,25 If Firm 1 follows a

 

 

Consider following payoff matrix for two firms Firm 2 High Price Firm 1 High Price 34,60 Low Price 75,25 If Firm 1 follows a maximin strategy, it would choose Low Price 21,90 22,18

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