Question: Answer the next 3 questions based on the following payoff matrix: 18. Wrich of the following is true? a) A dominant strategy for Firm A

Answer the next 3 questions based on the following payoff matrix: 18. Wrich of the following is true? a) A dominant strategy for Firm A is "high price". b) There does not exist a dominant strategy for Firm A. c) A dominant strategy for Firm B is "low price". d) none of the above 19. What are the Nash equilibrium strategies for Firm A and Firm B respectively in a one-shot game? a) (low price, low price) b) (high price, high price) c) (low price, high price) d) (high price, low price) 20. The secure strategy for firm B is a) Low price b) High price c) No secure strategy exists
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