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Dears/madam, I want help on the following question: 1.Three firms are considering entering a new market. The payoff for each firm that enters is 150
Dears/madam, I want help on the following question:
1.Three firms are considering entering a new market. The payoff for each firm that enters is 150 / (150 divided to n), where "n "is the number of firms that enter. The cost of entering is 62.
a. Find all the pure-strategy Nash equilibria.
b. Find the symmetric mixed-strategy equilibrium in which all three players enter with the same probability.
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