Use the following information to answer the next $2$ questions:

Visa was considering the implementation of a new policy of charging a fee to holders of its credit cards for periods during which the card is not used. Initially, Visa decided to first "signal" its intentions to hike fees by publicly announcing its plans in advance. They notified their cardholders that they would not begin charging the fees right away but they would reserve the right to do so$.$

Question $10(2$ points$)$

If Visa believes that raising fees is a profitable move, then why would it delay implementing the fee, which could reduce the amount of profit generated by higher fees?

Question $10$ options:

Visa may be worried that its competitors will raise their fees by even higher amounts, and they want to be a second mover.

Visa may be trying to protect itself should its rival credit$-$card firms choose not to follow its initiative to raise fees.

Visa may believe that any loss in profit from delaying the implementation of higher fees will be greater than the potential loss from being the first firm to raise fees.

None of the above.

Question $11(2$ points$)$

Why might the rival credit$-$card companies wait for Visa to implement its fee increases before they do the same?

Question $11$ options:

The rivals are anticipating the ability to secure a second$-$mover advantage.

The rivals do not believe that implementing higher fees will increase profit throughout the industry.

The rivals do not want Visa to become the industry price leader.

The rivals are worried that customers will react negatively to higher fees and punish any one or two firms that raise fees by switching card companies.