Question: Two oligopolists must simultaneously decide on a pricing strategy, either set a high price (Ph) or a low price (Pl). Once the price is set,

Two oligopolists must simultaneously decide on a pricing strategy, either set a high price (Ph) or a low price (Pl). Once the price is set, it cannot be changed. If the firms do not collude, the outcome of the game will be

(A) both firms set a low price.

(B) Firm Y sets a high price and Firm Z alternates between the high price and low price.

(D) Firm Y sets the high price and Firm Z sets the low price.

(E) Firm Y sets the low price and Firm Z sets the high price.

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