The Figure Shown Represents the Choices and Payoffs (Company Profits)of

question 44

Multiple Choice

The figure shown represents the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to compete with these prices. The Rock Shop is trying to decide whether or not it should enter the market.According to the figure, MiiTunes:

• A)has a dominant strategy to charge low prices.
• B)does not have a dominant strategy.
• C)has a dominant strategy to charge high prices.
• D)has more than one dominant strategy.

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Definitions:

Vehicles

Modes of transportation that move people or goods from one place to another, including cars, buses, bicycles, etc.

LinkedIn

A professional networking platform that allows individuals and companies to connect, share content, and find job opportunities.

Social Networking Sites (SNS)

Websites or platforms that enable users to create and share content or to participate in social networking.

Social Storefronts

Online platforms or sections of websites where businesses can directly sell products or services through social media channels.