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- Two rival communications companies (Alpha and Beta) are both considering bringing out a revolutionary 8G wireless technology. Unfortunately, the costs of development are so high that the potential market could only support one firm. Both companies understand these possible outcomes. If one firm enters the 8G market and the other does not, the entering firm will receive $500 billion in profits over the next 5 years; the other firm will receive $100 billion over the same 5 years (by concentrating on their current 5G service). If neither enters the 8G field, they can both expect to receive $75 billion over the 5-year period, as they fight over the 5G market. Lastly, if both enter the 8G market, each will end up suffering a $50 billion loss over the same 5 years. Use a game table with “ENTER” and “STAY OUT” to decide each player’s options and the payoffs. Explain why each company has a strong reason to want to announce its intentions before the other company announces theirs.The mixed stratergy nash equalibrium consists of : the probability of firm A selecting October is 0.692 and probability of firm A selecting December is 0.309. The probability of firm B selecting October is 0.5 and probability of firm selecting December is 0.5. In the equilibrium you calculated above, what is the probability that both consoles are released in October? In December? What are the expected payoffs of firm A and of firm B in equilibrium?Amazon could launch a smartphone this year that costs “a fraction” of what Apple charges for its iPhone, a new report says. Amir Efrati at The Information spills details from an allegedly leaked internal Amazon document. The paperwork is said to have been produced by a potential partner and two people who were involved in discussions with Amazon. According to Efrati, the document discussed strategies for penetrating smartphone markets in China, Europe and the United States. Earlier discussions also mentioned Latin America as a possibility. The phone, which has been referred to as “Project Aria,” is likely to go on sale this year, according to Efrati. There’s no specific price, but he says Amazon is “determined” to “keep the phone at a small fraction of the iPhone’s $550-and-up price tag.” If Amazon does launch a smartphone this year, it’s unclear if it will fall under the company’s own brand or if it will work with a partner. Efrati says Amazon was “in talks” with “multiple hardware…
- Amazon could launch a smartphone this year that costs “a fraction” of what Apple charges for its iPhone, a new report says. Amir Efrati at The Information spills details from an allegedly leaked internal Amazon document. The paperwork is said to have been produced by a potential partner and two people who were involved in discussions with Amazon. According to Efrati, the document discussed strategies for penetrating smartphone markets in China, Europe and the United States. Earlier discussions also mentioned Latin America as a possibility. The phone, which has been referred to as “Project Aria,” is likely to go on sale this year, according to Efrati. There’s no specific price, but he says Amazon is “determined” to “keep the phone at a small fraction of the iPhone’s $550-and-up price tag.” If Amazon does launch a smartphone this year, it’s unclear if it will fall under the company’s own brand or if it will work with a partner. Efrati says Amazon was “in talks” with “multiple hardware…Amazon could launch a smartphone this year that costs “a fraction” of what Apple charges for its iPhone, a new report says. Amir Efrati at The Information spills details from an allegedly leaked internal Amazon document. The paperwork is said to have been produced by a potential partner and two people who were involved in discussions with Amazon. According to Efrati, the document discussed strategies for penetrating smartphone markets in China, Europe and the United States. Earlier discussions also mentioned Latin America as a possibility. The phone, which has been referred to as “Project Aria,” is likely to go on sale this year, according to Efrati. There’s no specific price, but he says Amazon is “determined” to “keep the phone at a small fraction of the iPhone’s $550-and-up price tag.” If Amazon does launch a smartphone this year, it’s unclear if it will fall under the company’s own brand or if it will work with a partner. Efrati says Amazon was “in talks” with “multiple hardware…14. Company A and Company B are each telecommunications manufacturers. Both companies manufacture the same products, and they make their decisions based on the other's actions. Both companies are considering opening retail outlets to increase their profits. The payoff matrix shows the profits of the companies in millions of dollars if they choose to open retail outlets. The government imposes a new $5 million tax to open retail outlets. What is the expected outcome of the new payoff matrix, given the tax? The Nash equilibrium is for Company A to not open retail outlets and for Company B to open retail outlets. The Nash equilibrium is for Company A to open retail outlets and for Company B to not open retail outlets. The Nash equilibrium is for both Company A and Company B to open retail outlets. The Nash equilibrium is for both Company A and Company B to not open retail outlets. There is no Nash equilibrium after the change given in the scenario.…
- Q56 A Nash equilibrium is an outcome... a. Achieved by cooperation between players in the game. b. That is achieved by collusion where no party has an incentive to change their behaviour. c. Where each player's strategy depends on the behaviour of its opponents. d. That is achieved when players in the game have jointly maximized profits and divided those profits according to market share of each player. e. Where each player's best strategy is to maintain its present behaviour given the present behaviour of the other players.The Miramar Company is going to introduce one of three new products: a Widget, a Hummer, or a Nimnot. The market conditions (favourable, Stable, or unfavourable) will determine the profit or loss the company realizes, as shown In the following payoff table: State of Nature Favourable Stable Unfavourable Product 0.2 0.7 0.1 $ $ $ Widget 120,000 70,000 -30,000 Hummer 60,000 40,000 20,000 Nimnot 35,000 30,000 30,000 Required: 1. Determine the best decision, using the following criteria Maximax Maximum LaPlace 2. Compute the expected value for each decision and select the best one.Consider the game with the payoffs below. Which of the possible outcomes are MORE efficient than the Nash Equilibrium (NE)? Note, they do NOT need to be Nash equilibria themselves, they just need to be more efficient than the NE. Multiple answers are possible, but not necessary. You need to check ALL correct answers for full credit. JILL High Medium LowMAGGIE Left 3,4 2,3 2,2Center 4,8 9,7 8,7Right 7,6 8,5 9,4Group of answer choices (Left, Low) There is no strategy combination that is more efficient than the Nash equilibrium for this game. (Right, Medium) (Left, High) (Center, Medium) (Center, High) (Center, Low) (Left, Medium) (Right, Low) (Right, High)
- A clothing store and a jeweler are located side by side in a shopping mall. If the clothing store spend C dollars on advertising and the jeweler spends J dollars on advertising, then the profits of the clothing store will be (36 + J )C - 2C 2 and the profits of the jeweler will be (30 + C )J - 2J 2. The clothing store gets to choose its amount of advertising first, knowing that the jeweler will find out how much the clothing store advertised before deciding how much to spend. The amount spent by the clothing store will be Group of answer choices $17. $34. $51. $8.50. $25.50.on 8.1 Consider the following game: Player 1 A C D 7,6 5,8 0,0 Player 2 E 5,8 7,6 1, 1 F 0,0 1,1 4,4 a. Find the pure-strategy Nash equilibria (if any). b. Find the mixed-strategy Nash equilibrium in which each player randomizes over just the first two actions. c. Compute players' expected payoffs in the equilibria found in parts (a) and (b). d. Draw the extensive form for this game.Youngstown-Warren Regional Airport (YNG) has had a difficult time securing passenger service from a commercial airline. a.) A few years ago, the Port Authority offered an incentive to United with guaranteed revenue equal to approximately $1.5 million, but United declined saying it was not sufficient. Suppose United anticipated that it would cost $1 million to offer flights from Youngstown, so with a guaranteed revenue of $1.5 million, their anticipated profit would equal $500,000. Given that they still chose to decline offering service from YNG, what do you know must be true? Put this in terms of implicit costs and economic profit. b.) In 2019, YNG’s only commercial carrier, Allegiant Air stopped offering service from YNG, despite the fact that it was known to be profitable. Allegiant Air’s service from YNG was known to be profitable. Why would Allegiant Air pull service from YNG even if it had been their service from YNG had been generating a profit? Note, Allegiant started…