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Venezuela Saudi Arabia The numbers on the left represent Saudi Arabia's profit, the numbers on the right represent Venezuela's. Each country has two choices of
Venezuela Saudi Arabia "The numbers on the left represent Saudi Arabia's profit, the numbers on the right represent Venezuela's. Each country has two choices of how much oil to produce, depending on the total amount of production their profits change. A. Determine the equilibrium of the above game. Does either country have dominant strategy? B. Is this a prisoner's dilemma? Is it the best outcome for either/both countries? C. If the two countries created a monopoly which outcome would they choose
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