Multiple Choice
(Figure: Payoff Matrix for the United States and Canada) Use Figure: Payoff Matrix for the United States and Canada. Suppose that the United States and Canada both produce quinoa, and each country can earn more profit if output is limited and the price of quinoa is high. The joint profit-maximizing combination is for the United States to produce a _____ output and Canada to produce a _____ output.
A) high; high
B) high; low
C) low; low
D) low; high
Correct Answer:

Verified
Correct Answer:
Verified
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