Louisiana State University, Shreveport ECON ECON 705 The ability of a firm to raise its price while still maintaining a…
Lionel Hutz Law Firm has
a dominated strategy: never choose a low level of advertising if Chiles chooses high, and never choose a high level of advertising if Chiles chooses low.
no dominant strategy since Hutz profits are earned after profits are earned by Chiles.
a dominant strategy: choose a low level of advertising.
a dominant strategy: choose a high level of advertising.
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