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Business, 18.12.2019 06:31 ajbrock1004

Consider a market with two firms, target and wal-mart, that sell cds in their music department. both stores must choose whether to charge a high price ($25) or a low price ($13) for the new miley cyrus cd. these price strategies with corresponding profits are depicted in the payoff matrix to the right. target's profits are in red and wal-mart's are in blue. target's dominant strategy is to pick a price of $ nothing.

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Consider a market with two firms, target and wal-mart, that sell cds in their music department. both...
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