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Economists often use Game Theory to analyze the actions of oligopolists. Suppose that Toyota and GM are considering entering a new market for electric automobiles
Economists often use Game Theory to analyze the actions of oligopolists. Suppose that Toyota and GM are considering entering a new market for electric automobiles and that their profits (in millions of dollars) from entering or staying out of the market are: GM Enter Do Not Enter Enter 10, -40 250, 0 TOYOTA Do Not Enter 0, 150 0,0 a) Does Toyota have a dominant strategy? EXPLAIN
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