Use the Table Below to Answer the Following Question

question 77

Multiple Choice

Use the table below to answer the following question.
Table 14.2.3
-Refer to Table 14.2.3.Store X and Store Y must decide whether or not to lower their prices.The table gives the economic profit made by Store X and Store Y.Which one of the following observations is correct?

• A)Both Store X and Store Y have a dominant strategy of raising their prices.
• B)If Store X lowers its prices and Store Y does not,Store X will earn a $20 profit.
• C)If Store Y lowers its prices,Store X will be better off not lowering its prices.
• D)Both Store X and Store Y would be better off if they could collude and agree to not lower prices.
• E)Both Store X and Store Y have a dominant strategy of lowering their prices.

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Definitions:

Job Analysis

The process of determining the duties, responsibilities, and qualifications of a job in order to create job descriptions, job specifications, and performance standards.

Abilities

The skills or competencies individuals possess, which enable them to perform specific tasks effectively.

Job Specifications

A detailed description of the qualifications, skills, experience, and attributes required for a person to perform a specific job.

Skills

Refers to the learned abilities or expertise that an individual possesses, which enable them to perform tasks or jobs effectively.