Consider the payoff matrix at right. OA. The high output-high output pair of strategies is a collusive outcome. OB. The low output-low output pair of strategies is a Nash equilibrium. OC. The high output-high output and low output-low output pairs of strategies are collusive outcomes. OD. The high output-high output and low output-low output pairs of strategies are Nash equilibria. E. The low output-low output pair of strategies is a collusive outcome. Firm B High Output Low Output Firm A High Output $22 $22 $32 $6 Low Output $6 $32 $25 $25

Consider the payoff matrix at right. OA. The high output-high output pair of strategies is a collusive outcome. OB. The low output-low output pair of strategies is a Nash equilibrium. OC. The high output-high output and low output-low output pairs of strategies are collusive outcomes. OD. The high output-high output and low output-low output pairs of strategies are Nash equilibria. E. The low output-low output pair of strategies is a collusive outcome. Firm B High Output Low Output Firm A High Output $22 $22 $32 $6 Low Output $6 $32 $25 $25

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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