Nash equilibrium for the one-shot game, Macroeconomics

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Nash equilibrium for the one-shot game

In a one-shot game, if you advertise and your rival advertises, you will earn $7 million and your rival will earn $2 million in profits. If neither of you advertise, your rival will make $4 million and you will make $2 million. If you advertise and your rival does not, you will make $8 million and your rival will make $3 million. If your rival advertises and you do not, you will make $1 million and your rival will make $3 million.

Here are my questions:

- What is the above game in normal form?

- Is there a dominant strategy? If yes, what is it?

- Does the rival have a dominant strategy? If yes, what is it?

- What is the Nash equilibrium for the one-shot game?

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Macroeconomics: Nash equilibrium for the one-shot game

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Macroeconomics: Nash equilibrium for the one-shot game

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Macroeconomics: Nash equilibrium for the one-shot game

Reference No:- TGS069693

Recent Questions Asked Macroeconomics

Q : Change of real exchange rate between us and japan

Q : Value of gdp-value of net domestic product

Q : Entry to record the declaration of the dividend

Q : Evaluate how these losses will affect the taxable income

Q : Nash equilibrium for the one-shot game

Q : Entry to record the declaration of dividend problem

Q : Health and sanitation-related supplies

Q : Problem based on distributed to preferred shareholders

Q : Compute the total amount of the dividend

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