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Use the Following to Answer Questions: Table: Ozzie's, Manny's Payoff

Question 110

Multiple Choice

Use the following to answer questions: Table: Ozzie's, Manny's Payoff Table  Ozzie’s Cement  (profit in 1,000s)   Low Price  High Price  Manny’s Cement  Low Price $60,$60$130,$20 (profit in 1,000s)   High Price $20,$130$80,$80\begin{array} { | l | l | c | c | } \hline & & \begin{array} { c } \text { Ozzie's Cement } \\\text { (profit in 1,000s) }\end{array} &{ } \\\hline & & \text { Low Price } & \text { High Price } \\\hline \text { Manny's Cement } & \text { Low Price } & \$ 60 , \$ 60 & \$ 130 , \$ 20 \\\hline \text { (profit in 1,000s) } & \text { High Price } & \$ 20 , \$ 130 & \$ 80 , \$ 80 \\\hline\end{array}
-(Table: Ozzie's, Manny's Payoff Table) Refer to the table. Which of the following statements is TRUE?


A) Manny and Ozzie do not have dominant strategies.
B) Manny's dominant strategy is low price, and Ozzie's dominant strategy is high price.
C) Manny's dominant strategy is high price, and Ozzie's dominant strategy is high price.
D) Manny's dominant strategy is low price, and Ozzie's dominant strategy is low price.

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