Two Banks (Franklin and Lincoln)compete for Customers in the Growing

question 14

Essay

Two banks (Franklin and Lincoln)compete for customers in the growing city of Logantown.Both banks are considering opening a branch office in one of three new neighborhoods: Hillsboro,Fremont,or Oakdale.The strategies,assumed to be the same for both banks,are:
Strategy 1: Open a branch office in the Hillsboro neighborhood.
Strategy 2: Open a branch office in the Fremont neighborhood.
Strategy 3: Open a branch office in the Oakdale neighborhood.
Values in the payoff table below indicate the gain (or loss)of customers (in thousands)for Franklin Bank based on the strategies selected by the two banks.
Identify the neighborhood in which each bank should locate a new branch office.What is the value of the game?

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Definitions:

Heroin Users

Individuals who use heroin, an opioid drug made from morphine, often leading to physical dependence, addiction, and various health issues.

Transmitting

the act of sending or conveying information, signals, or messages from one person, device, or location to another.

Opioid Drugs

Substances that act on opioid receptors to produce morphine-like effects, used primarily for pain relief but are also abused.

Narcotics

Drugs that relieve pain and induce sleep, often used medically but can also lead to dependency and misuse.