01 exams

# 01 exams - Economics 109 Midterm Examination Prof Watson...

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More Challenging Questions 5. Consider a game between two f rms who simultaneously and independently select advertising levels. Let a 1 denote f rm 1’s advertising level and let a 2 denote f rm 2’s advertising level. Assume that the advertising levels are between 0 and 24. That is, S 1 =[0 , 24] and S 2 =[0 , 24]. Firm 1’s payo f (pro f t) is u 1 ( a 1 ,a 2 )=20 a 1 + a 1 a 2 a 2 1 and Firm 2’s payo f is u 2 ( a 1 ,a 2 )=20 a 2 + a 1 a 2 a 2 2 . (a) Calculate and graph the
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01 exams - Economics 109 Midterm Examination Prof Watson...

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