(Table) Based on the Game Theory Table for Barbara and Helen

question 59

Multiple Choice

(Table) Based on the game theory table for Barbara and Helen (with Barbara's profits in regular text and Helen's profits in italics) , a clear dominant strategy is that
$\begin{array}{c}\text { Barbara's Barbershop }\\\begin{array}{|l|l|ll|ll|}\hline && {\text { Low Price }} && {\text { High Price }} \\\hline \text { } &\text { Low Price } & \$ 2,000 & \$ 2,500 & \$ 3,500 & \$ 1,000 \\\hline& \text { High Price } & \$ 600 & \$ 3,900 & \$ 2,500 & \$ 2,700\\\hline \end{array}\end{array}$

• A) Helen's best move is to charge a low price regardless of what Barbara does.
• B) Helen's best move is to charge a high price regardless of what Barbara does.
• C) both Helen and Barbara have a dominant strategy to charge a high price.
• D) Barbara's best move is to charge a high price when Helen charges a low price.

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