Use the Following to Answer Questions: Table: Christie' and Sotheby's

question 174

Multiple Choice

Use the following to answer questions: Table: Christie' and Sotheby's $$\begin{array} { | l | l | l | l | } \hline & & \text { Sotheby's Strategies } \\\hline & & \text { High Commission } & \text { Low Commission } \\\hline \text { Christie's } & \text { High Commission } & \text { \$4 million, \$4 million } & \text { \$2 million, \$6 million } \\\hline \text { Strategies } & \text { Low Commission } & \text { \$6 million, \$2 million } & \text { \$3 million, \$3 million } \\\hline\end{array}$$
-(Table: Christie' and Sotheby's) Each cell of this table presents the revenues earned by the auction houses, Christie's and Sotheby's. Revenues are based on the type of commission each firm charges its clients, as well as what commission the other charges. Christie's revenues are listed first in each cell, then Sotheby's. Christie's dominant strategy is ______ commission and Sotheby's dominant strategy is ______ commission.

• A) high; high
• B) high; low
• C) low; high
• D) low; low

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