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Suppose that Panasonic and LG are the only two firms that can produce a new type of holographic TV. The payoff matrix shows the firms'

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Suppose that Panasonic and LG are the only two firms that can produce a new type of holographic TV. The payoff matrix shows the firms' profits (in millions of dollars): Panasonic Enter Do not enter Enter -40,-40 250,0 LG Do not enter 0, 250 0,0 a) If both firms move simultaneously, does either firm have a dominant strategy? Explain. b) What are the Nash equilibria given that the firms move simultaneously? c) The South Korean government commits to pay LG a lump-sum subsidy of $50 millions if it enters this market. What is the Nash equilibrium

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