Little Kona is a small coffee company that is considering entering a market dominated by Big Brew. Each company's profit depends on whether Little Kona enters and whether Big Brew sets a high price or a low price: Big Brew High Price Low Price Little Kona Enter $2 million, $3 million -$2 million, $1 million Don't Enter $0, $8 million $0, $3 million True or False: Only Big Brew has a dominant strategy in this game. True False Which of the following outcomes represent a Nash equilibrium in this case?
a) Big Brew maintains a low price and Little Kona does not enter.
b) Big Brew maintains a high price and Little Kona does not enter.
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Little Kona is a small coffee company that is considering entering a market dominated by Big Brew. E...
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