TABLE 11- 3 the Payoff Matrix Below Shows the Payoffs

TABLE 11- 3 The payoff matrix below shows the payoffs to Firms A and B from producing different levels of output.The numbers in parentheses are (payoff to A,payoff to B) .
$\begin{array}{c}&\text { Firm B }\\\text { Firm A }&\begin{array}{l|c|c} & \begin{array}{c}\text { Produce } \\\text { 1000 Units }\end{array} & \begin{array}{c}\text { Produce } \\\text { 2000 Units }\end{array} \\\hline \text { Produce } & & \\\text { 1000 Units } & (100,100) & (10,150) \\\text { Produce } & & \\\text { 2000 Units } & (150,10) & (30,30) \end{array}\end{array}$
-Consider the following characteristics of a particular industry: - there are natural barriers to entry
- market price exceeds marginal cost of production
- there is no strategic behaviour in the industry This industry is likely to be

A) one where each firm has limited market power.
B) an oligopoly.
C) monopolistically competitive.
D) perfectly competitive.
E) a monopoly.