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Consider a league with two teams that might engage in doping. If neither team engages in doping, the odds that Team A will win the league championship are 65% and the odds that Team B will win the league championship are 35%. The value of winning the league championship is $2,500,000 and coming in second place is worth $500,000. If Team A engages in doping and Team B does not, the odds that Team A will win increase to 75%. However, if Team B engages in doping and Team A does not, the odds that Team A will win drop to 45%. If both teams engage in doping, the odds that either team wins do not change. Assume initially that the costs of doping are the same for both teams at $10,000.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9441527

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