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

question 50

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.What is the equilibrium pair of strategies?

• A)Low-price for Firm 1 and high-price for Firm 2
• B)High-price for both Firm 1 and Firm 2
• C)Medium-price for Firm 1 and low-price for Firm 2
• D)High-price for Firm 1 and low-price for Firm 2
• E)Low-price for both Firm 1 and Firm 2

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