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29-12-2023
Business

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Synergy and Dynaco are the only two firms in a specific high-tech industry. They face the following pay off matrix as they decide upon the size of their research budget:

| | Synergy | Dynaco |
| ––––- |:––––-:| ––:|
| Large Budget | 3000, 2000 | 0, 3000 |
| Small Budget | 7000, 0 | 5000, 4000 |

a. Does Synergy have a dominant strategy? Explain.
b. Does Dynaco have a dominant strategy? Explain.
c. Is there a Nash equiLiBrium for this scenario? Explain. (Hint: Look closely at the definition of Nash equiLiBrium.)

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