Question: Firm 2 Q =9 Q = 12 Q = 15 Firm 1 Q=9 162 180 180 162 135 108 Q = 12 135 144 135

Firm 2 Q =9 Q = 12 Q = 15 Firm

Firm 2 Q =9 Q = 12 Q = 15 Firm 1 Q=9 162 180 180 162 135 108 Q = 12 135 144 135 180 144 108 Q = 15 108 108 90 180 135 90 Consider an oligopoly with two firms. Each firm can produce a quantity of 9, 12, or 15. The table above summarizes the game, showing the profits for each firm as a result of the quantity produced by both firms. In each cell, the number in the bottom left corner is firm 1's profit, and the number in the top right corner is firm 2's profit. Which of the following is the best collusive outcome? O Firm 1 produces 15 and firm 2 produces 15. O Firm 1 produces 15 and firm 2 produces 9. O Firm 1 produces 9 and firm 2 produces 9. O Firm 1 produces 12 and firm 2 produces 12

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