The following matrix displays the advertising rates and the resultant profits (in thousands of dollars)for two rival newspapers in a major city.
(a)Assume that the newspapers set their advertising rates independently.Determine the optimal strategy for each firm.Explain briefly.

Question

The following matrix displays the advertising rates and the resultant profits (in thousands of dollars)for two rival newspapers in a major city.
  (a)Assume that the newspapers set their advertising rates independently.Determine the optimal strategy for each firm.Explain briefly.

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The Answer of The following matrix displays the advertising rates and the resultant profits (in thousands of dollars)for two rival newspapers in a major city.
  (a)Assume that the newspapers set their advertising rates independently.Determine the optimal strategy for each firm.Explain briefly.

The Following Matrix Displays the Advertising Rates and the Resultant