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able B shows the pricing options for two medical doctors operating as an oligopoly in a rural market. Which of the following pricing strategies does

able B shows the pricing options for two medical doctors operating as an oligopoly in a rural market. Which of the following pricing strategies does Table 7 depict? Table B

Pricing strategies Dr. Good charges LOW Price Pricing strategies Dr. Good charges HIGH Price
If Dr. Good and Dr. Fine both charge LOW price, BOTH get $350 each If DR. Good charges the HIGH PRICE and Dr. Fine charges the LOW PRICE, Dr. Good GETS $0, and Dr. Fine gets $700
If Dr. Fine charges HIGH PRICE and Dr. Good charges LOW PRICE, Dr. Fine gets $0 and Dr. Good gets $700 If Dr. Good and Dr. Fine both charge the HIGH PRICE, BOTH get $500 each

TABLE 7 First Period Choose High or low price First Period Profit Second Period Choose High or low price Second Period Profit Total Profit in both periods
Dr. Good Low $350 Low $350 $700
Dr. Fine Low $350 Low $350 $700

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