Coke and bottled water brands continue to run sales promotions and compete strongly on price. Clearly, the best solution would be for neither to promote which would jointly maximize their profits
However, both are worried that if they stop promoting while the other does not, they will suffer. As a result, the equilibrium is heavy promotion by both and lower total profits. With reference to the game theory, this is an example of:
A) generic equilibrium.
B) prisoner's dilemma game.
C) leader—follower game.
D) best strategy game.
B
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Mass communication and high technology have led to highly individualized and distinct patterns of consumption in diverse cultures worldwide
Indicate whether the statement is true or false
Fraudulent Misrepresentation. William and Lilly Adams obtained a divorce in 1985 and began the process of dividing their property. They inventoried their worldly possessions and decided that certain property would go to Mrs. Adams and the remainder,
including the debts on the community property, would remain with Mr. Adams. Mrs. Adams later testified in legal proceedings that Mr. Adams had consistently told her that she must take the property as offered and agree not to seek alimony, that Mr. Adams had threatened to declare bankruptcy and force her to accept the responsibility for her share of the community debts if she did not agree, and that Mr. Adams frequently cursed her but did not in any way threaten physical harm. Mrs. Adams also testified that she had examined the subsequent formal community property settlement and that she basically understood it. At that time, she had casually spoken to two different attorneys about the settlement contract, but because both attorneys said that they would need time to investigate before giving advice, she went ahead and signed it. She now claims that she had signed the agreement under duress and because of fraudulent misrepresentation. Discuss whether Mrs. Adams can rescind the settlement contract on these grounds.