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Question 14 1 pts Use the image above to answer the next few questions. If a monopolistically competitive rm faces demand and has the cost curves shown above, what is the prot maximizing level of output in the short run? Question 18 1 pts Use the following payoff matrix to answer the next question. The textbook explains how to use payoff matrices such as this in the chapter on game theory. Delta's price policy High Low High Gamma's price policy Low Refer to the matrix, which shows the prot payoffs to each of two oligopolistic rms of following either a high- or low-price policy. Gamma's payoffs are in the lower left corner of each cell; Delta's in the upper right. If Gamma uses a high-price strategy and Delta uses a low-price strategy, which of the following is true? 0 Delta would prefer to switch to a high-price strategy. O Gamma would prefer to switch to a low-price strategy. 0 Both rms would be satised keeping their choice the same 0 their prots will be the same. Question 19 1 pts Using the payoff matrix in the prior problem, what should Delta do if the 2 players must make their choice at the same time? 0 Collect $75 0 Charge a low price if they think Gamma will charge a low price, and a high price if they think Gamma will charge a high price. 0 Charge a high price if they think Gamma will charge a low price, and a low price if they think Gamma will charge a high price. 0 Choose the $50/$50 box 0 Try to make sure Gamma earns no more than $30 0 Charge a low price. Question 20 1 pts Suppose that you were playing a game with the payoffs below (your firm's profits are blue and bold). You only care about yourself and do not care what the other player gets. In this game, you choose first and then the other player sees your choice and then makes their decision (and you can't change your mind). If you know that the other player will try to maximize their own payoff and doesn't care how much you get, what should you do? Your choice A B Other 150 0 Player's X . Choices 150 100 90 110 Y 50 200 O 200 O A O B O B & Y O You can't tell without more informationSuppose that a nondiscriminating monopolist (meaning that they charge the same price to everyone) faces demand given in the following table. What is the MR of the 4th unit? 028 02 07 0-2