Table 17-12
Suppose That Angelina and Brad Own the Only

question 3

Essay

Table 17-12
Suppose that Angelina and Brad own the only two professional photography stores in town. Each must choose between a low price and a high price for senior photo packages. The annual economic profit from each strategy is indicated in the table below:
Angelina
Low price High price
$\begin{array}{c}\begin{array}{|l}\hline\\\text { Brad }\\\\\\\hline\end{array}\begin{array} { | l | l | l | } \hline \text { Low price } & \begin{array} { l } \text { Angelina's profit } = \$ 20,000 \\\text { Brad's profit } = \$ 20,000\end{array} & \begin{array} { l } \text { Angelina's profit } = \$ 4,000 \\\text { Brad's profit } = \$ 23,000\end{array} \\\hline { \text { High price } } & \text { Angelina's profit } = \$ 25,000 & \text { Angelina's pro fit } = \$ 22,000 \\& \text { Brad's profit } = \$ 5,000 & \text { Brad's profit } = \$ 22,000 \\\hline\end{array}\end{array}$
-Refer to Table 17-12. Does Brad have a dominant strategy? If so, describe it.

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Definitions:

Biological Theories

Concepts suggesting the biological basis behind various psychological functions and behaviors.

Abnormality

Deviation from the norm or average, often used to describe differences in behavior, physical or mental health that are unusual or not typically observed.

Hospital Of Saint Mary Of Bethlehem

Originally a psychiatric hospital in London, known historically for its association with the treatment of mental illnesses.

Deplorable Conditions

Conditions that are very bad, miserable, or appalling in nature, often in reference to living situations or environments.