The following payoff matrix represents a duopoly in which the numbers indicate the profit (in thousands of dollars)for a high-price or a low-price strategy.
-Refer to the above payoff matrix.If both firms collude to maximize joint profit,the total profit for the two firms will be
A) $1,200,000.
B) $1,250,000.
C) $1,400,000.
D) $1,500,000.
E) $2,000,000.

Question

The following payoff matrix represents a duopoly in which the numbers indicate the profit (in thousands of dollars)for a high-price or a low-price strategy. 
-Refer to the above payoff matrix.If both firms collude to maximize joint profit,the total profit for the two firms will be
A) $1,200,000. 
B) $1,250,000. 
C) $1,400,000. 
D) $1,500,000. 
E) $2,000,000.

Quizplus · Accepted Answer

The Answer of The following payoff matrix represents a duopoly in which the numbers indicate the profit (in thousands of dollars)for a high-price or a low-price strategy. 
-Refer to the above payoff matrix.If both firms collude to maximize joint profit,the total profit for the two firms will be
A) $1,200,000. 
B) $1,250,000. 
C) $1,400,000. 
D) $1,500,000. 
E) $2,000,000.

The Following Payoff Matrix Represents a Duopoly in Which the Numbers