Game theory help
This is the question https://imgur.com/a/bgZJOjJ
for part d, I found the equilibrium to be the same as the nash equilibrium at (medium, medium). I crossed out the high column and row since it was a dominated strategy, which left me with medium and low columns and rows. From here i saw that medium was the dominant strategy for firm 1 since it gave the highest pay offs for whatever firm 2 picked compared to if firm 1 picked low. Firm 2 would then pick medium to maximise their payoff. So who gains the advantage?
for part d, I found the equilibrium to be the same as the nash equilibrium at (medium, medium). I crossed out the high column and row since it was a dominated strategy, which left me with medium and low columns and rows. From here i saw that medium was the dominant strategy for firm 1 since it gave the highest pay offs for whatever firm 2 picked compared to if firm 1 picked low. Firm 2 would then pick medium to maximise their payoff. So who gains the advantage?
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