Safari File Edit View History Bookmarks Window Help 0 0 Q 8 Mon 8 Apr 3:37 PM ... learn-ap-southeast-2-prod-fleet01-xythos.content.blackboardcdn.com C + M Inbox (2) - ramanar. OASIS i L1. Workshop Activ.. L2(a). Game Theor.. L1. Game Theory -. Lili Assessments - Intr. B https://learn-ap-so. Course Hero Your game theory tasks for Part 2 are as follows: For relevant context to setup this particular game, read the following (freely-available) key news articles: 1. https://www.nytimes.com/2023/12/11/business/economy/profit-margins-inflation.html https://www.cnbc.com/2023/12/15/unlike-fed-theres-no-sign-corporate-america-is-about-to-cut-prices.html WN https:/www.nytimes.com/2024/02/20/business/economy/food-price-inflation-cools.html You are to construct a relevant payoff matrix (in numbers only) based on the key news articles. To help you construct the payoff matrix, here are the key parameters and assumptions: This is a game played between major competitors in the food/beverage industry with market power in the largest economy, around Q3 to Q4 2023. There are two players - 'Player 1' is 'corporation 1' (e.g. PepsiCo), and 'Player 2' is 'other corporations' (e.g. Coca- Cola, Red Bull etc.). There are two strategies - 'maintain prices' (MP) or 'reduce prices' (RP). o Each strategy has an associated payoff. o The number for the payoff symbolises profits. O Players act rationally. o Firms' main customers are from middle- and higher-income levels with strong consumer demand. Think of this as a simultaneously played game: this is a game played once and is repeated more than once, yet the rules, players, and payoffs are the same each time. In this game, you will need to work out what the associated numerical (hypothetical) payoffs are. Explain in words each quadrant and any specific outcome you come across. 8 4