The following table shows the pay-off matrix for West Ltd. and East Ltd. in an oligopolistic market. Each firm has two options: co-operate or start a price war. Refer to the table to answer the question. 
Which of the following is the Nash equilibrium outcome in this oligopoly?
Definitions:
Resource Decreases
The reduction in the availability or supply of natural, human, or capital resources in an economy or specific market.
Substitute Input
An alternative resource or material that can be used in place of another in the production process to achieve the same outcome.
Labor Resource Market
A market where individuals offer their labor or services for wages to employers who are in need of those services.
Output Effect
The change in total revenue generated by selling an additional unit of a product or service.
Q2: Total expenditure in an economy is equal
Q18: Explain how a monopoly makes supernormal pro?ts.
Q40: A contestable market is one where firms
Q55: The following table shows the pay-off matrix
Q59: Which of the following conditions will allow
Q63: If it is difficult to differentiate between
Q92: Suppose that goods X and Y are
Q95: It is reasonable to believe that the
Q98: If price of a product equals £5
Q100: An advertising campaign for a good that