12.3 Simultaneous Decision Making and the Payoff Matrix

Multiple Choice

12.3 Simultaneous Decision Making and the Payoff Matrix

-Refer to Figure 12.7.The numerical data show daily profits for each of the two firms when they choose a specific pricing strategy.If both firms choose a high-price strategy,

A) Omega will earn $300 daily profit and Zeta will earn $100 daily profit.
B) Omega will earn $100 daily profit and Zeta will earn $300 daily profit.
C) Both firms will earn $200 daily profit.
D) Both firms will earn $150 daily profit.