-Intel and AMD are a duopoly that produce CPU chips.Intel and AMD can conduct R&D or they can not conduct R&D.The table above shows the payoff matrix for the two firms.AMD is playing a tit-for-tat strategy and Intel did not conduct R&D last period.Then,of the following answers,Intel's total profit for the next two periods is the highest if Intel ________ R&D this period and ________ R&D next period.
Definitions:
Cirque
A mountain basin with steep sides and a bowl-like shape, formed by glacier activity, frequently hosting a small lake.
Moraine
A mass of rocks and sediment carried down and deposited by a glacier, typically as ridges at its edges or extremity.
Valley
A low area between hills or mountains, often with a river or stream flowing through it.
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