Which of the following conditions correctly describes a Nash equilibrium when two firms are in the market?
Question 21 options:
pi 1(s1*, s2*) >= pi 1(s1, s2*) for all s1.
pi 1(s1*, s2*) >= pi 1(s1, s2*) for all s1 and pi 2(s1*, s2*) >= pi 2(s1*, s2) for all s2.
pi 1(s1, s2*) >= pi 2(s1*, s2*) for all s1 and pi 2(s1*, s2) >= pi 1(s1*, s2*) for all s2.
pi 1(s1*, s2*) >= pi 2(s1, s2*) for all s1 and pi 2(s1*, s2*) >= pi 1(s1*, s2) for all s2.