-Refer to the Payoffs in the Table Above

question 226

Multiple Choice

-Refer to the payoffs in the table above. Sears and Wal-Mart must decide whether to lower their prices based on the profits shown in the table. This game has

• A) no Nash equilibrium.
• B) a Nash equilibrium: Sears keeps its prices high and Wal-Mart lowers its prices.
• C) a Nash equilibrium: both Sears and Wal-Mart keep prices high.
• D) a Nash equilibrium: both Sears and Wal-Mart lower prices.

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