Scenario 10 Two rival firms in duopoly (a market in which there are only two firms that compete) are considering spending on the Research and Development (R&D). Each firm can spend either $20 million or nothing on R&D: If neither firm spends, Firm A earns $35 million and Firm B earns $75 million. If Firm A spends on R&D and Firm B doesn’t, Firm A earns an economic profit of $85 million and Firm B make an economic loss of 5 million. If Firm B spends on R&D and Firm A doesn’t, Firm B earns an economic profit of $85 million and Firm A make an economic loss of 5 million. If each firm spends on R&D, Firm A earns $15 million and Firm B earns $55 million. Refer to Scenario 10. (1) Is there a dominant strategy for Firm A? Explain. (2) Is there a dominant strategy for Firm B? Explain

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.