In Game Theory, If Two Rivals in an Oligopoly Can

In game theory, if two rivals in an oligopoly can avoid a large loss by cutting price from $40 to $35,

A) neither will cut its price
B) one will charge $40 and the other will charge $35
C) their actions will depend on their respective strategies
D) each will cut price but not all the way to $35
E) they will collude to do what's best for both of them