Business, 21.12.2019 02:31, hcpscyruscm

Han solo and buba fettare the only two smugglers in the western reaches. they have been colluding, sharing the market and earning monopoly profits of $100,000 each for several years. bubba fett is considering reducing his price. he estimates that if han solo keeps his price at current levels, bubba fettwould earn $150,00,although han solo’s earnings would fall to $25,000. there is also the possibility that han solo would compete against bubba fett. the resulting price war would reduce the earnings of each to $40,000.a. set up a payoff matrix above with han solo on top. b. is there a dominate strategy for either plyer? if so, what is it for each person? c. what is the nash equilibrium outcome? explain the intuition behind this.

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Han solo and buba fettare the only two smugglers in the western reaches. they have been colluding, s...