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The payoff matrix presents the weekly profits resulting from pricing strategies being considered by WalMart and a local grocery store. a. (2 pts) Which player

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The payoff matrix presents the weekly profits resulting from pricing strategies being considered by WalMart and a local grocery store. a. (2 pts) Which player has a dominant solution and what is it? b. (2 pts) What combination of strategies do the two players end up following? In other words, where do they end up in this payoff matrix? WalMart Set prices low Set prices high 1 5000 4000 Set prices low 700 700 Your Mother's Grocery 1 7000 6000 Set prices high 600 800

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