Question: Question 27 Answer the question based on the following payoff matrix for a duopoly in which the numbers indicate the profit from either opening

Question 27 Answer the question based on the following payoff matrix for

Question 27 Answer the question based on the following payoff matrix for a duopoly in which the numbers indicate the profit from either opening a coffee shop in a small to opening the coffee shop. Firm A's Strategies Don't Open Open A = $0 A = $5,000 B = $0 B = $0 A = $0 A = $10,000 B = $5,000 B = $10,000 Refer to the above table. If both firms choose their strategies simultaneously, then Firm B's dominant strategy is to not open a coffee shop. There is no Nash equilibrium for this game. Both firms have a dominant strategy to not open a coffee shop. Firm A's dominant strategy is to open a coffee shop. Don't Open Firm B's Strategies Open

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