Multiple Choice
If Firm A charges a high price for its product, the probability that a competitor will respond with a high price is 0.7. If the probability of an economy going to recession next year is 0.3, what is the probability of the competitor charging a high price and a recession starting next year if Firm A charges a high price?
A) 0.21
B) 0.3
C) 0.4
D) 0.7
Correct Answer:
Verified
Correct Answer:
Verified
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