Economics The profit that each firms expects to make will depend on the choices made by all three. All have access to the same market research data, and estimates (in $millon ) shown below. Keep in mind that each firm has different cost, since their profits are not identical, but each firm knows the profit expectations of the others for every possible combination. Each adopts a game theoretic approach to the problem of deciding which model it should produce. What does each firm produce considering the data provided below? Firm As expected profit E M L If B produces E M L E M L E M L If C produces E 15 18 20 18 22 23 20 23 25 If A produces M 26
