Use Figure: Payoff Matrix Shell & BP I. The figure shows the payoff matrix where the hypothetical daily profits of BP and Shell (in millions of dollars) depend on each other's decision about whether to lower prices. Based on the payoffs, BP's dominant strategy is _____ the price, and Shell's dominant strategy is _____ the price.
Figure: Payoff Matrix Shell & BP I
A) to lower; not to lower
B) not to lower; to lower
C) to lower; to lower
D) not to lower; not to lower
Correct Answer:
Verified
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