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(Figure 65-1: Payoff Matrix for Jake and Zoe) Jake and Zoe are the only producers of slushies in Vacatown. Each week, each firm decides whether
(Figure 65-1: Payoff Matrix for Jake and Zoe) Jake and Zoe are the only producers of slushies in Vacatown. Each week, each firm decides whether to price high or price low for the following week. The figure shows the profit per week earned by the two firms. What is the Nash equilibrium for Jake and Zoe
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Microeconomics Theory and Applications
Authors: Edgar K. Browning, Mark A. Zupan
12th edition
9781118920060, 1118758870, 1118920066, 978-1118758878
