Consider two fashion companies, House of Kieron and Rohan Exclusive. Both firms can simultaneously choose to go up market (U) or choose a fashion line for the mass market (M). If both firms choose U, the payoffs are 40 to Kieron and 60 to Rohan. If Kieron opts for M and Rohan U, the payoffs are 30 to Kieron and 10 for Rohan. If Kieron plays U and Rohan M, the payoffs are (10, 20) for Kieron and Rohan, respectively. Finally, if Kieron plays M and Rohan plays M, the payoffs are (50, 40). What is the Nash equilibrium/equilibria?Group of answer choices(M, M) and (U, U)(M, M)(U, M) and (M, U)(U, M)(M, U) and (M, M)

ill in the blanks:Consider the department store market that has two rivals, DJs and Myer. Each firm can choose to either Advertise or Not Advertise. These choices are made simultaneously. The payoffs are given below in the following figure.  What is the total payoff for both Myer and DJs in the equilibrium? . Myer and DJs would be better off by choosing , respectively (write Advertise or Not). In that case, their total payoff would be .

Firm 1 has two options: enter a new market (E) or stay out (O). If Firm 1 decides to enter the market, Firm 2, the incumbent, can either fight (F) or accommodate (A). If Firm 2 chooses to fight, Firm 1 can choose to compete with Firm 2 by raising their advertising budget (C) or keep their planned budget the same (NC).The payoffs to Firm 1 and 2 if Firm 1 chooses O are 5 and 4. If Firm 2 chooses A, the payoffs are 3 and 0. The payoffs from E followed by F and NC are 1 and 2. The payoffs from E followed by F and C are x and 1. The parameter x is an integer and x > 1.What is the lowest integer value of x so that Firm 1 will definitely choose E in a subgame perfect equilibrium of this game?Write your answer as an integer (no decimal points).

Consider a pricing game between Coles and Woolworths. Each firm simultaneously chooses whether to price High or Low. If both firms price Low, the payoffs are 8 to Coles and 2 to Woolworths. If both firms choose High, the payoffs are 3 to Coles and 7 to Woolworths. If Coles opts for Low and Woolworths High, Coles gets 5 and Woolworths 4. Finally, if Coles plays High and Woolworths Low, Coles gets 7 and Woolworths receives a payoff of 6. Which statement is true?Correct!  the outcome of the game is (Low, High), where Coles if playing the first strategy Low and Woolworths High; this game is a prisoners’ dilemma   the outcome of the game is (High, Low); this game is a prisoners’ dilemma   the outcome of the game is (Low, Low); this game is not a prisoners’ dilemma   the outcome of the game is (High, High); this game is a prisoners’ dilemma

Two restaurant proprietors, James and May, must simultaneously decide on the locations of their restaurants. The choices are on Pitt Street (P) or King Street (K). If both opt for P, the payoffs are (10, 20) to James and May, respectively. If both proprietors opt for K the payoffs are (10, 8). If James choose P and May chooses K, the payoffs are (5, 4). Finally, if James chooses K and May chooses P, the payoffs are (7, 3). The Nash equilibrium/equilibria is/are . This is a game

Two restaurant proprietors, James and May, must simultaneously decide on the locations of their restaurants. The choices are on Pitt Street (P) or King Street (K). If both opt for P, the payoffs are (10, 20) to James and May, respectively. If both proprietors opt for K the payoffs are (10, 8). If James choose P and May chooses K, the payoffs are (5, 4). Finally, if James chooses K and May chooses P, the payoffs are (7, 3). The Nash equilibrium/equilibria is/are (P, P) and (K, K) . This is a [ Select ] game