The following table lists the payoffs of two firms adopting three possible advertising strategies:
Table 10-5
-Refer to Table 10-5. Identify the true statement.
A) Neither player has a dominant strategy.
B) Only Firm 1 has a dominant strategy.
C) Only Firm 2 has a dominant strategy.
D) Both firms have dominant-strategies.
E) The only equilibrium has both players using mixed strategies.
Correct Answer:
Verified
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