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The two dominant supermarket chains in the area are attempting to increase their market share by moving to 24-hour service instead of closing at 9 p.m. every night. The strategic outcomes andpayoff matrix that arise from their actions are depicted in the diagram to the right (with the shaded sections representing payoffs for Chain 2). According to a Nash equilibrium, the best strategy is for:![]() A:both chains to close at 9 p.m. B:both chains to open for 24 hours. C:only Chain 2 to open for 24 hours. |
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