If I'm Bike A, I get all the way to the right, in case B passes. Then at the next opportunity I get the hell off the pedway.

If I'm Bike B, I slow down and wait till A passes. Then at the next opportunity I get the hell off the pedway.

Worth noting, though, that the above situation almost never happens IME. No, the walkers will be going down the exact middle of the pedway, or maybe on the other side of it, or walking a dog on an extendo-leash who is now god only knows where, because all you can see is the thin black line extending into the bushes on the other side of the path, or there are 4 walkers spread out across the whole goddam path, or it's someone on skates, wearing earbuds, who chooses the moment you pass to make an impromptu pirouette.