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Suppose there are two companies. Goldstream Estates and Red Deer Realtors. in a market that compete with one another. Both rms are trying to decide

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Suppose there are two companies. Goldstream Estates and Red Deer Realtors. in a market that compete with one another. Both rms are trying to decide independently of one another whether they should engage in an advertising campaign or not. If Goidstream Estates advertises while Red Deer Realtors does not advertise, Goidstream Estates will earn prots of S ] i} while Red Deer Realtors will earn prots of $0. If Goidstream Estates advertises and Red Deer Realtors also advertises. each rm will earn SSE-i] in prots. The payoffs for advertising or not advertising for Red Deer Realtors are symmetric to those facing Goldstream Estates. Finally you know that when both rms decide not to advertise they each earn Hill} in prots. Use this information to complete the payoff matrix below. a. Complete the above matrix given the information provided in this question. b. If Red Deer Realtors and Goldstream Estates cooperate with one another. which choice of strategy for each rm will result in the greatest joint prots? c. What is the dominant strategy for Goidstream Estates? d. What is the dominant strategy for Red Deer Realtors? e. What do you predict will be the outcome of this \"game" given the above information? What will the value of joint prots be given this predicted outcome? Red Deer Realtors more \"JFMSPIBD

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