Nash equilibrium is achieved between firms a and b when each firm chooses its best strategy regardless of the other firm's strategy. other strategies could be used by a that would be better for the firm given the firm b strategy. firm a strategy maximizes the utility of b firm. the least desirable strategies for both firms are achieved. both a and b chose their best strategy given the strategy that the other firm has chosen.

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Conley

12 April, 14:19

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Baylee Friedman · Answer 1

and b chose their best strategy given the strategy that the other firm has chosen.