(Table) Referring to the Payoff Matrix for Norm and Pete

question 3

Multiple Choice

(Table) Referring to the payoff matrix for Norm and Pete (with Norm's profit in plain text and Pete's profit in italics) , what is the MOST likely outcome of this noncooperative game?
$\begin{array}{c} \quad \quad \quad \quad \quad \quad \quad \text { Pete's Pasta Dinners } \\\begin{array}{|l|l|ll|ll|}\hline & & {\text { High Price }} & &{\text { Price }} \\\hline \text {Norm's Noodle Bowls } & \text { High Price } & \$ 4,000 & \$ 4,500 & \$ 700 & \$ 3,500 \\\hline &\text { Low Price } & \$ 2,800 & \$ 500 & \$ 3,000 & \$ 3,700 \\\hline\end{array}\end{array}$

• A) Both charge a high price.
• B) Both charge a low price.
• C) Norm charges a high price and Pete charges a low price.
• D) Pete charges a high price and Norm charges a low price.

---

Definitions:

Perform Actions

The process of carrying out activities or executing tasks, often guided by intention, planning, or motivation.

Ability

The possession of the means or skill to do something, often referring to natural aptitude or acquired proficiency.

Heckhausen & Schulz

Represents researchers known for their work on motivation, control, and aging, particularly focusing on how individuals manage life's transitions and challenges.

Internally Oriented

A focus towards one's internal thoughts, feelings, and sensations rather than external stimuli and the environment.