Abbott and Costello Are Two Firms That Compete with Each

Multiple Choice

Abbott and Costello are two firms that compete with each other in the market for ice-cream.They can price their product at a high,medium,or low price.The following matrix shows their profits from their respective pricing strategies.
Table 15-3
-Refer to Table 15-3.What is Abbott's dominant strategy?

A) Abbott does not have a dominant strategy.
B) Abbott's dominant strategy is selling at a high price.
C) Abbott's dominant strategy is selling at a low price.
D) Abbott's dominant strategy is selling at a medium price.