The Table Given Below Represents the Payoff Matrix of Firms

question 64

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.
-If X = 10 and Y = 15,then from the information in Table 14-3 we can say that:

• A)the payoff matrix represents a prisoner's dilemma game.
• B)the game has a dominant-strategy equilibrium.
• C)the game has a Nash equilibrium.
• D)the payoff matrix represents a Cournot oligopoly.

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Definitions:

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