The Following Matrix Gives the Profits (In Thousands of Dollars)for

question 15

Multiple Choice

The following matrix gives the profits (in thousands of dollars) for Firm 1 and Firm 2 from high-price,medium-price,and low-price pricing strategies:
Table 10-1

-Refer to Table 10-1.Identify Firm 2's dominant strategy.

• A)Firm 2's dominant strategy is the low-price strategy.
• B)Firm 2's dominant strategy is the high-price strategy.
• C)Firm 2 does not have a dominant strategy.
• D)Firm 2's dominant strategy could be high-price or medium-price depending on its bargaining power.
• E)Firm 2's dominant strategy is the medium-price strategy.

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Definitions:

Numerical Values

Quantitative data represented by numbers.

Metric

A standard unit of measurement or a quantifiable indicator used to assess, compare, or track performance or efficiency.

Measures

Quantitative or qualitative assessments or comparisons of different aspects of a concept or thing.

Interval Data

A type of numerical data in which the intervals between values are meaningful, allowing for a wide range of statistical operations.