Use the Following to Answer Questions

question 159

Multiple Choice

Use the following to answer questions:
Scenario: Payoff Matrix for Firms X and Y
The following payoff matrix depicts the profits for the only two firms in this oligopolistic industry.
-(Scenario: Payoff Matrix for Firms X and Y) In the scenario Payoff Matrix for Firms X and Y, if firm Y were to choose its dominant strategy, it would:

• A) choose a low price.
• B) choose a high price.
• C) encounter a dilemma, since there are two dominant strategies.
• D) allow firm X to dominate the industry.

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Definitions:

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