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(Figure: Payoff Matrix for Alex and Sybil) Use Figure: Payoff Matrix for Alex and Sybil. Alex and Sybil are the only producers of frozen yogurt

(Figure: Payoff Matrix for Alex and Sybil) Use Figure: Payoff Matrix for Alex and Sybil. Alex and Sybil are the only producers of frozen yogurt in their town. Every week, each decides whether to price high or low for the following week. The figure shows the profit per week earned by the two businesses. The BEST response for Alex is to: Payoff Matrix for Alex and Sybil Alex charges a high price Alex charges a low price Sybil charges a high price Alex earns $1,000 per week Sybil earns $1000 per week Alex earns $1,500 per week Sybil earns $200 per week Sybil charges a low price Alex earns $200 per week Sybil earns $1,500 per week Alex earns $800 per week Sybil earns $800 per week Question 3 options: price high. price low. price low when Sybil prices high. price high when Sybil prices low

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