Consider the following bi-matrix game between firm Alpha and firm Beta. The first number gives the...

 

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Consider the following bi-matrix game between firm Alpha and firm Beta. The first number gives the pay-off for the row-player (i.e., Alpha), whereas the second number gives the pay-off for the column player (i.e., Beta). Alpha H H (8,8) (6, 0) Beta L (0,7) (5,5) Does firm Beta have a dominated strategy? And, does the strategy combination {L,L} constitute a Nash equilibrium in this case? Explain your answer. Consider the following bi-matrix game between firm Alpha and firm Beta. The first number gives the pay-off for the row-player (i.e., Alpha), whereas the second number gives the pay-off for the column player (i.e., Beta). Alpha H H (8,8) (6, 0) Beta L (0,7) (5,5) Does firm Beta have a dominated strategy? And, does the strategy combination {L,L} constitute a Nash equilibrium in this case? Explain your answer.