Consider the accompanying payoff matrix. If Column Cruises offers reduced rates, and Row Resorts keeps its rates high, then Row Resorts will earn ________, and Column Cruises will earn ________.
A)300; 300
B)50; 50
C)500; 10
D)10; 500

Question

Consider the accompanying payoff matrix.  If Column Cruises offers reduced rates, and Row Resorts keeps its rates high, then Row Resorts will earn ________, and Column Cruises will earn ________.
A)300; 300 
B)50; 50 
C)500; 10 
D)10; 500

Quizplus · Accepted Answer

In the payoff matrix above, if Column Cruises offers reduced rates and Row Resorts keeps rates high, then players will earn the payoffs in the lower left cell.

Consider the Accompanying Payoff Matrix