Draw the normal form representation of this game. Identify the key aspects of the game. b. Identify the dominant strategy, if any, for each player. c. Identify any Nash equilibria.
Two gas stations in a rural town can engage in collusion over pricing. Because drivers often just stop at the first station they see as they go through town,
a. Draw the normal form representation of this game. Identify the key aspects of the game.
b. Identify the dominant strategy, if any, for each player.
c. Identify any Nash equilibria.
Step by step
Solved in 4 steps with 3 images
