(Scenario: Payoff Matrix for Firms X and Y)Payoff Matrix for Firms

Multiple Choice

(Scenario: Payoff Matrix for Firms X and Y) Payoff Matrix for Firms X and Y.If firm X and firm Y wish to maximize joint profits: Scenario: Payoff Matrix for Firms X and Y
The following payoff matrix depicts the profits for the only two firms in this oligopolistic industry.

A) each firm should choose its dominant strategy.
B) firm Y should choose a dominant strategy and firm X should choose a nondominant strategy.
C) each should consider its specific situation before choosing a strategy since strategies also entail costs.
D) each should choose a nondominant strategy.