-The Above Figure Shows the Payoff to Two Airlines,A and B,of

question 24

Multiple Choice

-The above figure shows the payoff to two airlines,A and B,of serving a particular route.If the two airlines must decide simultaneously,how many Nash equilibria are there?

• A)0
• B)1
• C)2
• D)It cannot be determined.

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Definitions:

Debts

Money that is owed or due to be paid to another individual or entity.

Sole Proprietorship

Business ownership in which there is no legal distinction between the sole proprietor’s status as an individual and his or her status as a business owner.

Partnership

A legal business structure where two or more individuals agree to share the profits and losses of a business.

Corporation

Legal organization with assets and liabilities separate from those of its owner(s).