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n 3 [2 marks] Goodman Group and Scentre Group are two commercial real estate developers. Both have DA approval for high-tech centres in Inner Queensland.

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n 3 [2 marks] Goodman Group and Scentre Group are two commercial real estate developers. Both have DA approval for high-tech centres in Inner Queensland. Consider the payoff matrix below and answer the following questions (in the grey-coloured area). (a) What is the Nash equilibrium of the strategic interaction between Goodman Group and Scentre Group? [1 mark] (b) What is the significance of this outcome? [1 mark] Scentre Group Develop Wait Goodman Group Develop 7, 8 2, 4 Wait 3, 1 8, 9

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