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Q3 [MIXED STRATEGY NASH EQUILIBRIUM] Consider the following game, where z > 0: Firm 2 High Price Low Price Firm 1 High Price (140, 140)

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Q3 [MIXED STRATEGY NASH EQUILIBRIUM] Consider the following game, where z > 0: Firm 2 High Price Low Price Firm 1 High Price (140, 140) (20, 160) Low Price (90+x, 90-x) (50, 50) (a) (3 marks) For what values of z do both firms have a dominant strategy? What is the Nash equilibrium (or equilibria) in these cases? (b) (3 marks) For what values of a does only one firm have a dominant strategy? What is the Nash equilibrium (or equilibria) in these cases? (c) (9 marks) Let z = 30. Is there a mixed strategy Nash equilibrium in this game? If so, what is it

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