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Let's analyze an international policy issue, trade relations between the U.S. and another country, say Japan. Assume that the two countries are considering policies to
Let's analyze an international policy issue, trade relations between the U.S. and another country, say Japan. Assume that the two countries are considering policies to open or close their import markets.The payoffs of each decision are shown in the table below. Remember that each country knows the payoff matrix.
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