(Figure: Payoff Matrix for the United States and Canada) Use Figure: Payoff Matrix for the United States and Canada. Suppose that the United States and Canada both produce quinoa, and each country can earn more profit if output is limited and the price of quinoa is high. The BEST response for the United States is:

A)low output.
B)high output.
C)adopt a tit for tat strategy.
D)The United States does not have a best response.

Question

(Figure: Payoff Matrix for the United States and Canada) Use Figure: Payoff Matrix for the United States and Canada. Suppose that the United States and Canada both produce quinoa, and each country can earn more profit if output is limited and the price of quinoa is high. The BEST response for the United States is:
​
 
A)low output. 
B)high output. 
C)adopt a tit for tat strategy. 
D)The United States does not have a best response.

Quizplus · Accepted Answer

The Answer of (Figure: Payoff Matrix for the United States and Canada) Use Figure: Payoff Matrix for the United States and Canada. Suppose that the United States and Canada both produce quinoa, and each country can earn more profit if output is limited and the price of quinoa is high. The BEST response for the United States is:
​
 
A)low output. 
B)high output. 
C)adopt a tit for tat strategy. 
D)The United States does not have a best response.