6. Lean Cuisine and Healthy Choice can charge either

$4 or $2 for their microwave-ready, frozen diet foods. Using the accompanying payoff matrix, and assuming for each a pricing strategy that avoids the worst-case scenario, what price do they pick?

Transcribed Image Text:

HEALTHY CHOICE'S STRATEGY Payoff Matrix LEAN CUISINE'S STRATEGY PRICE = $4 PRICE = $2 PRICE = $4 LEAN CUISINE HEALTHY CHOICE LEAN CUISINE = $100 LEAN CUISINE = $150 = $100 HEALTHY CHOICE = $ 20 PRICE = $2 HEALTHY CHOICE = $ 20 LEAN CUISINE = $150 = $ 60 HEALTHY CHOICE = $ 60