Business, 24.03.2020 00:29, leekkk

George and Jerry are competitors in a local market. Each is trying to decide if it is better to advertise on TV, on radio, or not at all. If they both advertise on TV, each will earn a profit of $3,000. If they both advertise on radio, each will earn a profit of $5,000. If neither advertises at all, each will earn a profit of $10,000. If one advertises on TV and the other advertises on radio, then the one advertising on TV will earn $4,000 and the other will earn $2,000. If one advertises on TV and the other does not advertise, then the one advertising on TV will earn $8,000 and the other will earn $5,000. If one advertises on radio and the other does not advertise, then the one advertising on radio will earn $9,000 and the other will earn $6,000. If both follow their dominant strategy, then George will

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answered: jadahilbun01

c. not advertise and earn $10,000.

Explanation:

According to GAME THEORY, the Dominant Strategy is one that if taken by an individual, results in the optimal move regardless of how the other player reacts.

In this scenario, NOT ADVERTISING is the Dominant Strategy. This is because if NONE of them advertise, they both make $10,000. If ONLY one advertises on TV and the other does not Advertise, the latter makes $5,000 regardless. If ONLY one advertises on Radio and the other does not Advertise, the latter makes $6,000. Thus, not advertising provides the Optimal scenario REGARDLESS of what the other does.

Let's say one decides to advertise on radio for instance. If that happens and the other also advertises, they will both earn $5,000. However, if one advertises on the radio and the other on TV, the former would only make $2,000. This figure is less than any figure from the NOT ADVERTISE strategy. So it is not the Dominant Strategy.

Now if both of them decide to follow their Dominant Strategy, they will both not Advertise and if both of them decide to abstain from advertising, it is stated that they will each make $10,000.

George will therefore make $10,000.

answered: Guest

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

answered: Guest

Some disadvantages to leasing a car is that you are counting on someone to give you money every week or month depending on what you decided and if they don't have all of it well what if you needed that money now you as well have to pay not in full. a disadvantages to purchasing a new vehicle is if it is used then not all the time will absolutely everything work. its almost like a trail and era. although if it is a new car they will try to though all these specials and deals at you in your lease and it can be very overwhelming if you are not use to it.

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George and Jerry are competitors in a local market. Each is trying to decide if it is better to adve...