12.3 Simultaneous Decision Making and the Payoff Matrix

question 53

Multiple Choice

12.3 Simultaneous Decision Making and the Payoff Matrix

-Refer to Figure 12.7.The numerical data show daily profits for each of the two firms when they choose a specific pricing strategy.If both firms follow their individual dominant strategy,

• A) Omega will earn $300 daily profit and Zeta will earn $100 daily profit.
• B) Omega will earn $100 daily profit and Zeta will earn $300 daily profit.
• C) Both firms will earn $200 daily profit.
• D) Both firms will earn $150 daily profit.

Realize the applicability of the UCC to different types of contracts and leases, including its effect on unconscionable contracts.

Acknowledge the UCC's approach towards modifications of contracts and interpretations of sales and lease contracts.

Learn about international contracts under the CISG and its relation to UCC.

Understand the key provisions and exceptions of the Statute of Frauds as applied within the UCC.

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