Refer to the Following Payoff Matrix: If the Payoff

question 17

Multiple Choice

Refer to the following payoff matrix: If the payoff matrix is a simultaneous-move production game, the Nash equilibrium is for:

• A) both players to produce low output.
• B) both players to produce high output.
• C) player 1 to produce low output and player 2 to produce high output.
• D) player 1 to produce high output and player 2 to produce low output.

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