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In a strategic interaction between two firms (A & B) in the market, both firms have two strategies to exercise: Increase Price & Not to
In a strategic interaction between two firms (A & B) in the market, both firms have two strategies to exercise: Increase Price & Not to increase price. Given are the following payoffs for (A, B) under different strategies: If both would increase price: (3000,3000) If both would not increase price: (5000, 5000) If A increases price and B doesn't: (10000, 15000) If A does not increase price and B increases: (15000, 10000). So, if both firms follow a maximin strategy, the equilibrium in the game would be attained when? * O (Raises Price, Raises Price) O (Doesn't Raise Price, Raises Price) (Raises Price, Doesn't Raise Price) none O (Doesn't Raise Price, Doesn't Raise Price)
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