parts d and e pleasethank you 14.6. Let us ignore mixed strategies. Asahi and Kirin are the two largest sellers ofbeer in Japan. These two firms compete head to head in the dry beer category inJapan. The following table shows the profit (in millions of yen) that each firm earnswhen it charges different prices for its beer:Kirin¥630¥660¥690¥720180, 180178, 184175, 185173, 186184, 178183, 183182, 192180, 194185, 175192, 182191, 191190, 198186, 173194, 180198, 190196, 196¥630Asahi¥660¥690¥720a) Does Asahi have a dominant strategy? Does Kirin?b) Both Asahi and Kirin have a dominated strategy: Find and identify it.c) Assume that Asahi and Kirin will not play the dominated strategy you identified inpart (b) (i.e., cross out the dominated strategy for each firm in the table). Havingeliminated the dominated strategy, show that Asahi and Kirin now have anotherdominated strategy.d) Assume that Asahi and Kirin will not play the dominated strategy you identifiedin parts (b) and (c). Having eliminated this dominated strategy, determinewhether Asahi and Kirin now have a dominant strategy.e) What is the Nash equilibrium in this game?

14.6. Let us ignore mixed strategies. Asahi and Kirin are the two largest sellers of beer in Japan. These two firms compete head to head in the dry beer category in Japan. The following table shows the profit (in millions of yen) that each firm earns when it charges different prices for its beer: Kirin ¥630 ¥660 ¥690 ¥720 180, 180 178, 184 175, 185 173, 186 186, 173 194, 180 198, 190 196, 196 184, 178 183, 183 185, 175 192, 182 191, 191 190, 198 ¥630 Asahi ¥660 182, 192 180, 194 ¥690 ¥720

14.6. Let us ignore mixed strategies. Asahi and Kirin are the two largest sellers of beer in Japan. These two firms compete head to head in the dry beer category in Japan. The following table shows the profit (in millions of yen) that each firm earns when it charges different prices for its beer: Kirin ¥630 ¥660 ¥690 ¥720 180, 180 178, 184 175, 185 173, 186 186, 173 194, 180 198, 190 196, 196 184, 178 183, 183 185, 175 192, 182 191, 191 190, 198 ¥630 Asahi ¥660 182, 192 180, 194 ¥690 ¥720

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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