Casey's General Store is considering placing a store in Hamilton,Missouri.If they place the store in Hamilton and no other convenience store enters the Hamilton market,they'll earn profits of $100,000 per year.If competitors do enter,Casey's profits as well as the competitor's profits will be reduced to $0 per year.If a competitor enters the Hamilton market and Casey's does not,the competitor's profits will be $100,000 per year. Does either player have a dominant strategy? Does the game have any Nash equilibria? What is the maximin strategy of each player in the game?

Question

Casey's General Store is considering placing a store in Hamilton,Missouri.If they place the store in Hamilton and no other convenience store enters the Hamilton market,they'll earn profits of $100,000 per year.If competitors do enter,Casey's profits as well as the competitor's profits will be reduced to $0 per year.If a competitor enters the Hamilton market and Casey's does not,the competitor's profits will be $100,000 per year.  Does either player have a dominant strategy? Does the game have any Nash equilibria? What is the maximin strategy of each player in the game?

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The Answer of Casey's General Store is considering placing a store in Hamilton,Missouri.If they place the store in Hamilton and no other convenience store enters the Hamilton market,they'll earn profits of $100,000 per year.If competitors do enter,Casey's profits as well as the competitor's profits will be reduced to $0 per year.If a competitor enters the Hamilton market and Casey's does not,the competitor's profits will be $100,000 per year.  Does either player have a dominant strategy? Does the game have any Nash equilibria? What is the maximin strategy of each player in the game?

Casey's General Store Is Considering Placing a Store in Hamilton,Missouri