Multiple Choice
The figure shown represents the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to compete at these prices. The Rock Shop is trying to decide whether or not it should enter the market.According to the figure, if The Rock Shop enters the market, MiiTunes will:
A) charge high prices.
B) charge low prices.
C) leave the market.
D) threaten to charge low prices.
Correct Answer:
Verified
Correct Answer:
Verified
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