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

Question 111

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. The equilibrium outcome is:


A) undefined in this game.
B) $80, $80.
C) $60, $60.
D) ($20, $130) or ($130, $20) .

Correct Answer:

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