Answer the Question Based on the Payoff Matrix for a Duopoly

question 122

Multiple Choice

Answer the question based on the payoff matrix for a duopoly in which the numbers indicate the profit in thousands of dollars for a high-price or a low-price strategy. If both firms collude to maximize joint profits, the total profits for the two firms will be

• A)$1,200,000.
• B)$1,250,000.
• C)$1,400,000.
• D)$1,500,000.

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