There are two pizza restaurants in College Town, PieCrust and LaPitra. Each company must decide whether to advertise or to not advertise. In the payoff matrix below, the first entry in each cell indicates PieCrust's daily profit, and the second entry indicates LaPizza's daily profit. Both firms have complete information. Advertise Not Advertise
Advertise
$250, $200 $450,$300
PieCrust
Not Advertise $180, $500 $390,5400

Required:
a. What strategy should PieCrust choose if LaPizza chooses to advertise? Explain using the dollar values in the payoff matrix.
b. What is the dominant strategy. If any, for LaPizza? Explain using the dollar values in the payoff matrix.
c. In the Nash equilibrium, determine each of the following

(1)PicCrust's daily profit
(2) LaPizza's daily profit

d. Suppose that advertising costs increase by $60 per day. Redraw the payoff matrix to reflect the effect of the higher advertising costs.

In the fall, jay thompson decided to live in a university dormitory. he signed a dorm contract under which he was obligated to pay the room rent for the full college year. one clause stated that if he moved out during the year, he could sell his dorm contract to another student who would move into the dormitory as his replacement. the dorm cost was $5000 for the two semesters, which jay had already paid a month after he moved into the dorm, he decided he would prefer to live in an apartment. that week, after some searching for a replacement to fulfill his dorm contract, jay had two offers. one student offered to move in immediately and to pay jay $300 per month for the eight remaining months of the school year. a second student offered to move in the second semester and pay $2500 to jay. jay estimates his food cost per month is $500 if he lives in the dorm and $450 if he lives in an apartment with three other students. his share of the apartment rent and utilities will be $404 per month. assume each semester is 4.5 months long. disregard the small differences in the timing of the disbursements or receipts. what is the cost of the cheapest alternative?

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Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars