(Table) Referring to the payoff matrix for Norm and Pete (with Norm's profit in plain text and Pete's profit in italics) , which statement BEST describes the scenario displayed in the table?
A) Neither Norm nor Pete has a dominant strategy.
B) Pete's dominant strategy is a high price.
C) Norm's dominant strategy is a low price.
D) The most likely outcome is that both charge a high price.
Correct Answer:
Verified
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