Use the Following to Answer Questions: Table: Christie' and Sotheby's

Multiple Choice

Use the following to answer questions: Table: Christie' and Sotheby's $$\begin{array} { | l | l | l | l | } \hline & & \text { Sotheby's Strategies } \\\hline & & \text { High Commission } & \text { Low Commission } \\\hline \text { Christie's } & \text { High Commission } & \text { \$4 million, \$4 million } & \text { \$2 million, \$6 million } \\\hline \text { Strategies } & \text { Low Commission } & \text { \$6 million, \$2 million } & \text { \$3 million, \$3 million } \\\hline\end{array}$$
-(Table: Christie' and Sotheby's) Each cell of this table presents the revenues earned by the auction houses, Christie's and Sotheby's. Revenues are based on the type of commission each firm charges its clients, as well as what commission the other charges. Christie's revenues are listed first in each cell, then Sotheby's. If both firms cooperate and act like a cartel:

A) both Christie's and Sotheby's will charge a high commission.
B) both Christie's and Sotheby's will charge a low commission.
C) Christie's will charge a high commission and Sotheby's will charge a low commission.
D) Christie's will charge a low commission and Sotheby's will charge a high commission.