Refer to the Above Payoff Matrix

question 137

Multiple Choice

Refer to the above payoff matrix.If both firms collude to maximize joint profits,the total profits for the two firms will be:

• A) $350 million.
• B) $400 million.
• C) $500 million.
• D) $525 million. Both firms collude and settle on a high-price strategy.This results in $250 million profits each,or $500 million total.

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