The Table Given Below Represents the Payoff Matrix of Firms

question 51

Multiple Choice

The table given below represents the payoff matrix of firms A and B,when they choose to produce either high output or low output.In each cell,the figure on the left indicates Firm B's payoffs and the figure on the right indicates Firm A's payoffs.
-Given the information in Table 14-3,if X = 15 and Y = 10,which firm has a dominant strategy?

• A)Firm A
• B)Firm B
• C)Both Firm A and Firm B
• D)Neither Firm A nor Firm B

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Definitions:

Volume Variances

are differences between the expected (budgeted) volumes of production or sales and the actual volumes, impacting revenue, costs, and profits.

Budget Variance

The difference between budgeted and actual amounts for a particular accounting category.

Volume Variance

The difference between actual and budgeted sales volumes, impacting the expected revenue or costs.

Actual Fixed Manufacturing Overhead

The real, incurred fixed costs associated with the production process, excluding variable costs, within a specific timeframe.