Multiple Choice
Use the following to answer question:
Figure: Payoff Matrix for Gehrig and Gabriel
-(Figure: Payoff Matrix for Gehrig and Gabriel) Use Figure: Payoff Matrix for Gehrig and Gabriel.The figure describes two people who sell handmade Davy Crockett figurines in San Antonio.Both Gehrig and Gabriel have two strategies available to them: to produce 5,000 figurines each month or to produce 7,000 figurines each month.If both follow a tit-for-tat strategy,equilibrium will be reached when Gehrig produces _____ figurines and Gabriel produces _____ figurines.
A) 5,000;5,000
B) 7,000;7,000
C) 7,000;5,000
D) 5,000;7,000
Correct Answer:

Verified
Correct Answer:
Verified
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