ALL I NEED IS PAYOFF MATRIX COMPLETE (SHOW CALCULATIONS), AND WHETHER OR NOT AN EQUILIBRIUM...
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ALL I NEED IS PAYOFF MATRIX COMPLETE (SHOW CALCULATIONS), AND WHETHER OR NOT AN EQUILIBRIUM EXISTS IN THE MATRIX. (AND WHY)
Assume global demand for oil is given by Qdx=34P(inbillionsofbarrels) and variable cost conditions to both supply groupings are: VCi=10Qi Fill in the missing entries in both (j) the table and (ii) the payoff matrix below, and determine whether at equilibrium exists in the payoff matrix. Assume global demand for oil is given by Qdx=34P(inbillionsofbarrels) and variable cost conditions to both supply groupings are: VCi=10Qi Fill in the missing entries in both (j) the table and (ii) the payoff matrix below, and determine whether at equilibrium exists in the payoff matrix
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