Question: What is a 'Nash Equilibrium'? Consider and create 'product choice' problem of your own of two firms and determine the 'Nash Equilibrium' (pay-offs will be

  • What is a 'Nash Equilibrium'? Consider and create 'product choice' problem of your own of two firms and determine the 'Nash Equilibrium' (pay-offs will be the matrix).
  • What is a dominant strategy? Give an example of 'weakly dominant' strategy game (using a payoff matrix)

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