How might advertising and brand names reduce economic well-being?

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Budgets and Profits
	Tech B
	High Budget	Low Budget
Tech A	High Budget	$18m. , $14m	$24m. , $10m
	Low Budget	$14m. , $22m	$25m. , $18m

1. Consider two software tech firms, Tech A and Tech B. Each firm must decide on the size of their research and development budget: high budget or low budget. The payoff matrix displays the possible choices and profits

a. Does Tech A have a dominant strategy? If yes, what is their dominant strategy?

b. Does Tech B have a dominant strategy? If yes, what is their dominant strategy?

c. What is the Nash equilibrium?

2. How might advertising and brand names reduce economic well-being? How might advertising and brand names increase economic well-being?

3. Define and give an example of a common resource (something other than fish in the ocean). Without government intervention, will people use this good too much or too little? Why?

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