Elucidate how which any two pure strategy equilibria of a, Ask an Expert

Economics

Q1. Elucidate how which any two pure strategy equilibria of a zero-sum game are interchangeable also equivalent.

Q2. Consider a linear Cournot duopoly with inverse demand curve
p = a - Q
where Q is market quantity. Assume firm 1's marginal cost is c_1 = 1,
also firm 2's marginal cost is c_2 = 2 (also a > 4).

(a) Find the Nash equilibrium in pure strategies.

(b) Illustrate what does iterative strict dominance say about the game?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9165854

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