Map d Sapling Learning macmillan learning For this question, imagine two firms i
ID: 1227444 • Letter: M
Question
Map d Sapling Learning macmillan learning For this question, imagine two firms in a duopoly in a price competition game. Each firm can charge either a high price or a low price, but competes with the other for market share. Please match the terms from the drop down menus with their respective definitions An equilibrium in which both firms stick to the higher price to their mutual benefit. A situation in which the firms' dominant strategies result in an outcome that leaves everyone worse off. Prisoner's Dilemma noncooperative equilibrium Nash Equilibrium cooperative equilibrium Select answer Select answer A situation in which neither firm can do better with another strategy, considering the strategy used by the other firm An equilibrium in which both firms act in self interest rather than sticking to the tacit or stated collusive agreement. -E Select answer Select answerExplanation / Answer
from left to right
Cooperative Equillibrium
Prisoner's Dilemma
Nash equillibrium
Noncooperative equillibrium