Refer to the following game. $\begin{array}{l}
\quad\quad\quad\quad\quad\text { Firm B }\
\text { Firm A}
\begin{array}{|l|l|l|}
\hline & \text {Low Price } & \text { High Price } \
\hline \text {Low Price } & (10,9) & (15,8) \
\hline \text { High Price } & (-10,7) & (11,11) \
\hline
\end{array}\end{array}$ What are the secure strategies for firm A and firm B respectively?
A) (low price, high price)
B) (high price, low price)
C) (high price, high price)
D) (low price, low price)

Question

Refer to the following game. $\begin{array}{l}
\quad\quad\quad\quad\quad\text { Firm B }\
\text { Firm A}
\begin{array}{|l|l|l|}
\hline & \text {Low   Price } & \text { High Price } \
\hline \text {Low  Price } & (10,9) & (15,8) \
\hline \text { High  Price } & (-10,7) & (11,11) \
\hline
\end{array}\end{array}$ What are the secure strategies for firm A and firm B respectively?
A) (low price, high price)
B) (high price, low price)
C) (high price, high price)
D) (low price, low price)

Quizplus · Accepted Answer

Firm A's secure strategy is to play low price, regardless of what firm B does. Firm B's secure strategy is to play high price, regardless of what firm A does.

Refer to the Following Game What Are the Secure Strategies for Firm a and Firm