QUESTION 4

QUESTION 4 (Table: Ozzie's, Manny's Payoff Table) Ozzie's Cement (profit in 1,000s) Low Price High Price Manny's Cement Low Price $60, $60 $130, $20 (profit in 1,000s) High Price $20, $130 $80, $80 Refer to the table. Which of the following statements is TRUE? O Manny and Ozzie do not have dominant strategies O Manny's dominant strategy is high price, and Ozzie's dominant strategy is high price. O Manny's dominant strategy is low price, and Ozzie's dominant strategy is high price O Manny's dominant strategy is low price, and Ozzie's dominant strategy is low price