Use the Following Table to Answer the Question : Table

question 69

Multiple Choice

Use the following table to answer the question : Table 15-3: Abbott and Costello are two firms that compete with each other in the market for ice-cream.They can price their product at a high,medium,or low price.The following matrix shows their profits from their respective pricing strategies.

-Refer to Table 15-3.When Abbott chooses the high-pricing strategy,Costello's highest possible profit is:

• A)$115
• B)$100
• C)$107
• D)$21

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Definitions:

Consumer Cooperative

A cooperative business owned by its customers for their mutual benefit, where profits are returned to the members according to their use of the cooperative, not according to the capital invested.

Franchise

A business model where a company allows an individual or other company to operate a branch of their business under their brand and guidelines.

Customer-Operated

Pertaining to systems or services that are directly used or managed by the customers themselves.

Self-Service

A business model or service design that allows customers to access services and perform tasks without direct assistance from staff, often through digital platforms or kiosks.