Order the answer to: Pat’s and Geno’s are two rival cheese-steak restaurants in Philadelphia,

Order the answer to: Pat’s and Geno’s are two…

Question	a. Suppose Genoâ??s and Patâ??s make their decisions simultaneously. What is the Nash equilibrium in this game? b. Now suppose that Patâ??s will decide whether or not to introduce desserts and then Genoâ??s will decide. Draw the game tree for this extensive form game. c. Use backward induction to determine how the extensive-form version of this game will be played.
Subject	business economics

Have a writer answer this question by clicking below. If you have any questions you can contact us via live chat.