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 the highest payoff from Abbott's dominated strategy?
A)$100
B)$115
C)$107
D)$60

Question

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 the highest payoff from Abbott's dominated strategy?
A)$100 
B)$115 
C)$107 
D)$60

Quizplus · Accepted Answer

The Answer of 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 the highest payoff from Abbott's dominated strategy?
A)$100 
B)$115 
C)$107 
D)$60

Abbott and Costello Are Two Firms That Compete with Each