You are given following information, there are ABC logistic company and XYZ logistic company they decide...

 

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You are given following information, there are ABC logistic company and XYZ logistic company they decide to reduce fares by 10% or leave fares alone. If both companies cut fares, each company's profit = $40 million. If neither company cuts fares, each company's profit = $60 million If only one company cuts its fares, its profit = $80 million the other company's profits = $20 million. Explain the strategies of game, dominate strategies, Nash equilibrium, repeat game, normal form of game and extensive form of game using above information. You are given following information, there are ABC logistic company and XYZ logistic company they decide to reduce fares by 10% or leave fares alone. If both companies cut fares, each company's profit = $40 million. If neither company cuts fares, each company's profit = $60 million If only one company cuts its fares, its profit = $80 million the other company's profits = $20 million. Explain the strategies of game, dominate strategies, Nash equilibrium, repeat game, normal form of game and extensive form of game using above information.

Answer rating: 100% (QA)

Strategy of Game In this game the two logistic companies must decide simultaneously whether to reduc... View the full answer