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Suppose Pepsi is considering an ad campaign aimed at rival Coca-Cola. (i) What is the dominant strategy for both Coca-Cola and Pepsi if the payoff

Suppose Pepsi is considering an ad campaign aimed at rival Coca-Cola. (i) What is the dominant strategy for both Coca-Cola and Pepsi if the payoff matrix is given as follows(show your work): Answer: (ii) What do you mean by Nash equilibrium? Will there be a Nash equilibrium? If yes, what is the Nash equilibrium? Answer:

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