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YES I UNDERSTAND. Can you help me understand how do describe what is missing? THe professor insists I have everything I need to work this problem.

This is a question posed as a thought exercise. As it's worded I honestly can't understand the game being proposed. How would I approach thinking about a pricing strategy?

There are 100 customers.

Step 1: Do you want to buy loyal customers?

Cost: $250Number: 30

They will pay any price.

You now price to grab the remaining customers.

The lowest price gets all the customers.

If you tie, then the remaining customers are split

50-50.

Both teams start at $50.You each bid lower or say you are done.The allowed bids are $50, $40, $30, $20, $10.When both teams lock in their bids, the game is over.

Payoff: The team with the highest revenue wins.

Example:

Team 1 passes on loyal customers, Team 2 buys loyal customers.

Team 1 Bids $10, Team 2 stays at $50.Game ends.

Team 1($10): 70*10 = 700

Team 2($50): 30*50 = 1500-250 = 1250

You are to discuss with your teammate what you moves you want to make and then post your move.

When the game ends, discuss what your strategy was.