The Table Given Below Represents the Payoff Matrix of Firms

question 68

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 which of the following conclusions can be drawn from the information given in Table 14-3?

• A)The game has a Nash equilibrium and a dominant-strategy equilibrium.
• B)The game has a Nash equilibrium but not a dominant-strategy equilibrium.
• C)The game does not have a Nash equilibrium but has a dominant-strategy equilibrium.
• D)The game has neither a Nash equilibrium nor a dominant-strategy equilibrium.

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