(Table: GoGo Gas and Fanny's Fantastic Fuel) Use Table: GoGo

Multiple Choice

(Table: GoGo Gas and Fanny's Fantastic Fuel) Use Table: GoGo Gas and Fanny's Fantastic Fuel. The table shows a payoff matrix for GoGo Gas and Fanny's Fantastic Fuel in a small town. Each firm can set either a high price or a low price, and customers view both gas stations as nearly perfect substitutes. The BEST response for Fanny is to:
​

A) always set a low price.
B) always set a high price.
C) set a low price when GoGo sets a high price, but set a high price when GoGo sets a low price.
D) Fanny does not have a best response.