(Figure: Payoff Matrix for George and Garner) Use Figure: Payoff Matrix for George and Garner. The figure describes two people who sell handmade porcelain figurines in San Francisco. Both George and Garner have two strategies available to them: to produce 5,000 figurines each month or to produce 7,000 figurines each month. The combined profits of the two are maximized if George produces _____ figurines and Garner produces _____ figurines.

A)5,000; 5,000
B)7,000; 7,000
C)7,000; 5,000
D)5,000; 7,000

Question

(Figure: Payoff Matrix for George and Garner) Use Figure: Payoff Matrix for George and Garner. The figure describes two people who sell handmade porcelain figurines in San Francisco. Both George and Garner have two strategies available to them: to produce 5,000 figurines each month or to produce 7,000 figurines each month. The combined profits of the two are maximized if George produces _____ figurines and Garner produces _____ figurines.
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​
 
A)5,000; 5,000 
B)7,000; 7,000 
C)7,000; 5,000 
D)5,000; 7,000

Quizplus · Accepted Answer

The Answer of (Figure: Payoff Matrix for George and Garner) Use Figure: Payoff Matrix for George and Garner. The figure describes two people who sell handmade porcelain figurines in San Francisco. Both George and Garner have two strategies available to them: to produce 5,000 figurines each month or to produce 7,000 figurines each month. The combined profits of the two are maximized if George produces _____ figurines and Garner produces _____ figurines.
​
​
 
A)5,000; 5,000 
B)7,000; 7,000 
C)7,000; 5,000 
D)5,000; 7,000