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Question: table 1616 consider a small town that has two grocery...

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Table 16-16 Consider a small town that has two grocery stores from which residents can choose to buy a gallon of milk. The store owners each must make a decision to set a high milk price or a low milk price. The payoff table, showing profit per week, is provided below. The profit in each cell is shown as (Store 1, Store 2). Store 2 Low Price (100, 100) (20, 160) High Price (160, 20) (130, 130) Low Price Store 1 High Price Refer to Table 16-16. If grocery store 2 sets a low price, what price should grocery store 1 set? And what will grocery store 1s payoff equal? Low price, $100 Low price, $500 High price, $100 High price, $800

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