The Table Below Shows the Payoff (Profit) Matrix of Firm

question 62

Multiple Choice

The table below shows the payoff (profit) matrix of Firm A and Firm B indicating the profit outcome that corresponds to each firm's pricing strategy (where $500 and $200 are the pricing strategies of two firms) .Table 12.2

-The owner of a good has the right to decide how that good is used and to restrict others from using that good. This idea is known as:

• A)the principle of mutual excludability.
• B)the principle of comparative advantage.
• C)the principle of public ownership.
• D)the principle of negative externalities.
• E)the law of demand.

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