question archive 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
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
Subject:EconomicsPrice: Bought3
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 = 580 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.
