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Q. Consider an industry with 2 firms. Every may either 'cooperate' with its rival or 'cheat' in every period of play. If both cooperate, they earn $100 every in that period. If only A firm cheats, it earns $150 in that period, but firm B earns $50. If only Firm B cheats, it earns $150 in that period, but A earns $50. If both cheat earns $30 in that period. Construct the payoff matrix for a single period game.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9162703

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