-Figure 12

question 46

Multiple Choice

-Figure 12.2 shows the decision tree for setting price for the only two firms in a market.How many dominant strategies are there for firm A?

• A) 0
• B) 1
• C) 2
• D) It cannot be determined without knowing what firm B does.

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Definitions:

Representative

An individual who is elected or chosen to speak, act, or make decisions on behalf of a larger group.

Interviewed

A process where individuals are asked questions to obtain information, insights, or opinions.

Canadian Adults

Individuals over the age of majority living in Canada, participating in its society, culture, and economy.

Concentrated

Characterized by a high density or intensity of a particular attribute or component in a small area or volume.