Question: Activity Mariam Industries and Luk, Ltd. are the only two firms in an oligopoly market, and each firm's objective is to maximize their own

Activity Mariam Industries and Luk, Ltd. are the only two firms in an oligopoly market, and each firm's objective is to maximize their own profit. Each firm can maintain its current amount of output or increase their output. The payoffs shown in this table represent the change in each firm's profit in each possible outcome. The first entry represents Luk Ltd.'s payoff and the second entry represents Mariam Industries' payoff. Mariam Industries maintain increase output output maintain output 0, ) 0,- 10 Luk, inrease Ltd. 10, - 2, - 2 output What is the change in industry profits in the Nash equilibrium of this game?

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