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Question 3' 1 pts Use the following information for Questions Ir, 3 and 9. Two firms are competing in a one-time market where each rm
Question 3' 1 pts Use the following information for Questions Ir", 3 and 9. Two firms are competing in a one-time market where each rm needs to simultaneously decide whether to charge a high price or a low price. The payoff matrix is below [e.g.. if Firm it charges a low price and Firm 2 charges a high price. then Firm 1's payoff is 50 and Firm 2's payoff is -5il Hiahprice m a a High Price -5i], 50 if}: ii] What would the rms' payoffs be if they agree to cooperate with each other and the agreement is enforceable fie, no cheating}? C) so. so O so.se (:3. 1D.1D Dee Q There are multiple likely outcomes.
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