Two firms are competing in a duopoly and are trying to decide which price to set.The two prices under consideration are a high monopoly price and a low competitive level.If both seller A and seller B chose the monopoly price,each will make $20 million of economic profit.However,if one picks the monopoly price while the other picks the competitive price,the high-price firm will lose $1 million while the low-price firm will make $32 million.If both sell at the competitive level,they both make zero economic profit.Complete the payoff matrix below and determine the Nash equilibrium.
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Children in the age group typically between three to five years old, prior to the commencement of formal education in elementary school.
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The process of acquiring and expanding the set of words known by a person, critical for communication and knowledge acquisition.
Indirect Object-Direct Object Constructions
Grammatical structures in which a verb is followed by two objects, the first (indirect object) denotes to whom or for whom the action is performed, and the second (direct object) denotes the thing acted upon.
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