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Business, 03.05.2021 15:10 jetblackcap

Consider a market with two​ firms, Kellogg and​ Post, that sell breakfast cereals. Both companies must choose whether to charge a high price ​($​) or a low price ​($​) for their cereals. These price​ strategies, with corresponding​ profits, are depicted in the payoff matrix to the right.​ Kellogg's profits are in red and​ Post's are in blue. What is the cooperative equilibrium for this​ game?

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Consider a market with two​ firms, Kellogg and​ Post, that sell breakfast cereals. Both companies mu...
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