Multiple Choice
The table given below shows the payoffs to Firm A and Firm B if they choose to produce either high output or low output.In each cell,the figure on the left indicates Firm A's payoffs and the figure on the right indicates Firm B's payoffs.
-Refer to the payoff matrix in Table 14-1.Which of the following describes the dominant-strategy equilibrium in this game?
A) Both firms produce low output
B) Both firms produce high output
C) Firm A produces low output and Firm B produces high output
D) Firm A produces high output and Firm B produces low output
Correct Answer:

Verified
Correct Answer:
Verified
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