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peter and olga live near a lake with open fishing, and both have fishing boats there. they are the only two providers of fish to their local fish market. what is likely to happen if the local fish market maintains a nash equilibrium?
a. fish prices will fall due to competitive pressures
b.the supply of fish will dwindle due to overfishing
c. the supply of fish will flourish due to underfishing
d. peter and olga will obtain the maximum possible profits

Answer :

Peter & Olga will most likely benefit if the local fish shop maintains a nash equilibrium by making the largest profits.

What is the greatest way to define profit?

Profit is the term used to describe the financial gain experienced when the income from a commercial activity outweighs the costs, costs, and taxes incurred to maintain the activity in question.

What does the term "profit" mean?

The economic benefit a firm has when revenue exceeds expenditures and expenses is sometimes referred to as profit. One cup of lemonade, for instance, costs a youngster at a peach iced tea stand one quarter. She then charges $2 for the beverage. She made $1.75 in profit on the cup of lemonade.

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