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Q1: In a small town, two restaurants compete in the market for burgers. Each restaurant must decide whether to charge a high price or a

Q1: In a small town, two restaurants compete in the market for burgers. Each restaurant must decide whether to charge a high price or a low price. The potential monthly profits for these firms are shown below (in thousands of dollars).

Restaurant B Price Low Price High 20 (A) 40 (A) Price Low 20(B) 25 (B) Restaurant A 15 (A) 30 (A) Price High 40 (B) 30 (B)

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