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Consider the following game. There are two companies that sell coffee. Each company makes $5 million in revenue. They need to determine whether they should
Consider the following game. There are two companies that sell coffee. Each company makes $5 million in revenue. They need to determine whether they should make social media advertising campaign. Advertising costs $2 million for each company. If one company advertises, and the other doesn't, then the on that advertises captures $3 million from the company that does not. If both companies advertise, they gain nothing. what is the payoff matrix. What is this game's Nash equilibrium (or equilibria)?
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