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Use the Table Below to Answer the Following Question

Question 5

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Use the table below to answer the following question.
Table 14.3.1 Use the table below to answer the following question. Table 14.3.1   -Consider the game shown in Table 14.3.1 based on potential gas prices between two competitors.The game is played repeatedly and the result is a cooperative equilibrium.The payoffs in the table show the economic profit of the firms.The most likely outcome is A) a cycle of first $0.95/litre,then $1.15/litre,etc. B) Hare sets her prices at $1.15/litre,and Turtle sets his at $0.95/litre. C) Hare sets her prices at $0.95/litre,and Turtle sets his at $1.15/litre. D) both set their prices at $1.15/litre. E) both set their prices at $0.95/litre.
-Consider the game shown in Table 14.3.1 based on potential gas prices between two competitors.The game is played repeatedly and the result is a cooperative equilibrium.The payoffs in the table show the economic profit of the firms.The most likely outcome is


A) a cycle of first $0.95/litre,then $1.15/litre,etc.
B) Hare sets her prices at $1.15/litre,and Turtle sets his at $0.95/litre.
C) Hare sets her prices at $0.95/litre,and Turtle sets his at $1.15/litre.
D) both set their prices at $1.15/litre.
E) both set their prices at $0.95/litre.

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