-Refer to Figure 2

Multiple Choice

-Refer to Figure 2.7, which summarizes the payoffs in thousands of dollars to two firms in a duopolistic industry arising from alternative pricing strategies. If both firms adopt a maximin decision rule, the strategy profile for this game is:

A) {Raise price, Raise price}.
B) {Raise price, Lower price}.
C) {Lower price, Raise price}.
D) {Lower price, Lower price}.