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Question: problem 5 20 points assume that each of three similar...

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Problem 5. (20 points) Assume that each of three similar firms is deciding whether to invest or not invest in advertising. The cost of in investing is 60. A firm that doesnt invest has a payoff of zero. All firms that invest equally split a payoff of 150. a. Find all the pure-strategy Nash equilibria b. Find all symmetric mixed strategy equilibrium (in a symmetric equilibrium all firms invest with the same probability p. where 0 < p < 1. Hint: if a firm that invest with p <1 must be indifferent between investing and not

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