Two firms are in the chocolate market. Each can choose to go for the high end of the market (high quality) or the low end (low quality). Resulting profits are given by the payoff matrix below.

If the managers of both firms are conservative and each follows a maximin strategy, what will be the outcome? The outcome if both managers follow maximin strategies is for

A. Firm 1 to choose low and Firm 2 to choose high.

B. Firm 1 to choose high and Firm 2 to choose high.

C. Firm 1 to choose low and Firm 2 to choose low.

D. Firm 1 to choose high and Firm 2 to choose low.

E. none of the above.

.....

		Firm 2
		Low	High
Firm 1	Low	50, 30	800, 400
High	400, 1000	50, 70