(Scenario: Payoff Matrix for Firms X and Y)Payoff Matrix for Firms

question 115

Multiple Choice

(Scenario: Payoff Matrix for Firms X and Y) Payoff Matrix for Firms X and Y.If firm X and firm Y wish to maximize joint profits: Scenario: Payoff Matrix for Firms X and Y
The following payoff matrix depicts the profits for the only two firms in this oligopolistic industry.

• A)each firm should choose its dominant strategy.
• B)firm Y should choose a dominant strategy and firm X should choose a nondominant strategy.
• C)each should consider its specific situation before choosing a strategy since strategies also entail costs.
• D)each should choose a nondominant strategy.

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