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Bud and Wise are the only two producers of aniseed beer a New Age product designed to displace root beer They are rying to figure out how much of this new beer to produce

Bud and Wise are the only two producers of aniseed beer, a New Age product designed to displace root beer. They are rying to figure out how much of this new beer to produce The table shows the payoff matrix (in dollars) for the game that Bud and Wise must play. The Nash equilibrium for this game is that. Bud's strategies red squares) 30,000 gallons 35,000 gallons 130,000 195,000 O A. B. C. O D. O E. Bud produces 30,000 gallons and Wise produces 30,000 gallons Bud produces 35,000 gallons and Wise produces 30,000 gallons Bud produces 35,000 gallons and Wise produces 35,000 gallons Bud produces 30,000 gallons and Wise produces 35,000 gallons Bud and Wise produce a total of 70,000 gallons, but it is impossible to know how much of the total each firm produces O 30,000 gallons 130,000 -70,000 Wise's stratoglo8 (blue squares) -70,000 35,000 gallons 195,000

Apr 30 2020 View more View Less

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