Use the Following to Answer Questions: Table: Ozzie's, Manny's Payoff

question 31

Multiple Choice

Use the following to answer questions: Table: Ozzie's, Manny's Payoff Table $$\begin{array} { | l | l | c | c | } \hline & & \begin{array} { c } \text { Ozzie's Cement } \\\text { (profit in 1,000s) }\end{array} &{ } \\\hline & & \text { Low Price } & \text { High Price } \\\hline \text { Manny's Cement } & \text { Low Price } & \$ 60 , \$ 60 & \$ 130 , \$ 20 \\\hline \text { (profit in 1,000s) } & \text { High Price } & \$ 20 , \$ 130 & \$ 80 , \$ 80 \\\hline\end{array}$$
-(Table: Ozzie's, Manny's Payoff Table) Refer to the table. Which of the following statements is TRUE?

• A) Manny and Ozzie do not have dominant strategies.
• B) Manny's dominant strategy is low price, and Ozzie's dominant strategy is high price.
• C) Manny's dominant strategy is high price, and Ozzie's dominant strategy is high price.
• D) Manny's dominant strategy is low price, and Ozzie's dominant strategy is low price.

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Definitions:

Apprehension

A feeling of anxiety or fear that something bad or unpleasant will happen.

Visual Cortex

the part of the cerebral cortex involved in processing visual information, located in the back part of the brain.

Blind

Refers to an experimental design where the participants do not know certain critical aspects of the study to prevent bias.

Visual Images

Representations of objects, scenes, or ideas in a visual format, typically perceived through sight.