Multiple Choice
The figure shown displays the choices that could be made by two firms in an industry: Tesla and Ford. Both companies are trying to decide whether or not to invest in research and development. Tesla will make a decision first, and then Ford will make a decision after observing Tesla's choice. The payoffs are the profits (in millions) these companies will earn as a result of their choices.If these players act in their own self-interest, then Ford will earn:
A) $40 million.
B) $10 million.
C) $50 million.
D) $70 million.
Correct Answer:
Verified
Correct Answer:
Verified
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