Question
There are 2 opposing toy firms, hasbro 1 and platform 2, both can produce quality expensive toys or cheaper less quality toys. Platform 2 systematically
There are 2 opposing toy firms, hasbro 1 and platform 2, both can produce quality expensive toys or cheaper less quality toys. Platform 2 systematically tends to go towards making more quality expensive toys. With this information what action should hasbro 1 take if it is pursuing a maximin strategy? Use the game theory matrix below to answer the question.
Platform 2
Expensive quality toys Cheaper less quality toys
-5 10
Expensive toys 2 50
Harbro1 2.5 5
Cheap toys 60 35
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