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The payoff matrix below shows a hypothetical payoff matrix for two countries, Italy and France, that are changing their tariff policies. Consider a scenario where

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The payoff matrix below shows a hypothetical payoff matrix for two countries, Italy and France, that are changing their tariff policies. Consider a scenario where France will Raise Tariffs with 1/2 probability and lower tariffs with 1/2 probability. Which of the following strategies will yield the highest expected payoff for Italy? Choosing Raise Tariffs with 1/3 probability and Lower Tariffs with 2/3 probability

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