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

question 31

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.The payoff matrix showing the firms' pricing strategies represents a:

• A)prisoner's dilemma.
• B)constant-sum game.
• C)dominant strategy equilibrium
• D)sequential game.
• E)tit-for-tat strategy.

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