Using the following payoff table for Hardaway Corporation and Paxton Industries. These two firms must make simultaneous pricing decisions. They can choose low, medium, or high prices. The payoffs given are in thousands of dollars of profit per month.
-After the first round of eliminating dominated strategies for both firms,
A) Hardaway Corporation has a dominant strategy, which is to price low.
B) Hardaway Corporation has a dominant strategy, which is to price medium.
C) Paxton Industries has a dominant strategy, which is to price low.
D) Paxton Industries has a dominant strategy, which is to price medium.
E) both b and d.
Correct Answer:
Verified
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