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Table: Payoff Matrix the Table Represents the Payoffs for Two Firms Operating as Two

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Table: Payoff Matrix
Table: Payoff Matrix The table represents the payoffs for two firms operating as a cartel. Based on the payoffs, what is the dominant strategy for each firm? Will the cartel agreement between the two firms be easy or hard to maintain? Explain.
The table represents the payoffs for two firms operating as a cartel. Based on the payoffs, what is the dominant strategy for each firm? Will the cartel agreement between the two firms be easy or hard to maintain? Explain.

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The dominant strategy is for both firms ...

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