1.ÿÿÿ better packaging of the product,2.ÿÿÿ increased advertising, and3.ÿÿÿ a slight reduction in price.The costs of the three alternatives are quite comparable and sufficiently large that each company will select just one. The estimated effect of each combination of alternatives on thefor company 1 is as follows:Each company must make its selection before learning the decision of the other company.1.ÿÿÿ Without eliminating dominated strategies, use the minimax (or maximin) criterion to determine the best strategy for each company.2.ÿÿÿ Now identify and eliminate dominated strategies as far as possible. Make a list of the dominated strategies, showing the order in which you were able to eliminate them. Then show the resulting reduced payoff table with no remaining dominated strategies.
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