Refer to the profit payoff matrix, and then answer the following questions. All profit figures are in thousands.

X's possible prices $40 $35 A $57 B $59 $40 $60 $55 Y's possible prices C $50 D $55 $35 $69 $58Number Definition 1 A table that shows the payoffs each firm earns from every combination of firm strategies N An agreement among firms to charge the same price or otherwise not to compete An option that is better than any alternative option regardless of what the other firm does An outcome of a strategic game from which neither rival wants to deviate O U W A game outcome in which players seek to increase their mutual payoff A practice where one firm initiates a price change and the other firms follow the leader A game in which the firms choose their strategies at the same time 8 One firm's gain must equal the other firm's loss A game in which the sum of the two firms' outcomes is positive 10 Firms select their optimal strategies in a single time period without regard to possible interactions in subsequent time periods 11 A game that occurs more than once