This is the answer..plz write in handwrittenHere, the given decision tree showsthat player 1 moves either to enter ornot to enter, while player 2 has twooptions to choose that are concedeand price war.When analyzing the given information,it can be seen that player 1 will surelyenter the market as it will give himhigher payoff than the payoff when hedoes not enter as does not enter giveshim $1 billion, while entry will givehim either $2 billion or $1.5 billion.Therefore, player 1 will enter. After theentry of player 1, player 2 has anincentive to choose to concede as itwill give him the payoff of$1.5 billion,while price war will give him $1 billion.Therefore, the outcome of this gamewould be: (Enter, Concede)

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Business

Economics

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

This is the answer..
plz write in hand
written
Here, the given decision tree shows
that player 1 moves either to enter or
not to enter, while player 2 has two
options to choose that are concede
and price war.
When analyzing the given information,
it can be seen that player 1 will surely
enter the market as it will give him
higher payoff than the payoff when he
does not enter as does not enter gives
him $1 billion, while entry will give
him either $2 billion or $1.5 billion.
Therefore, player 1 will enter. After the
entry of player 1, player 2 has an
incentive to choose to concede as it
will give him the payoff of$1.5 billion,
while price war will give him $1 billion.
Therefore, the outcome of this game
would be: (Enter, Concede)

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