Multiple Choice
Larry's Lizards and Ronaldo's Reptiles are competing pet store franchises. Both are considering opening a store in the small town of Turtleville. If Ronaldo's opens a profitable store in Turtleville and Larry's management determines that it is not profitable to also open a store, then
A) this is a simultaneous game.
B) a Nash equilibrium is not possible in this game.
C) Ronaldo's had a first-mover advantage in this game.
D) this is a zero-sum game.
Correct Answer:
Verified
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