Oligopolies are considered to be: both productively efficient, but not allocatively efficient. both allocatively and productively...

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Oligopolies are considered to be: both productively efficient, but not allocatively efficient. both allocatively and productively efficient. both allocatively efficient, but not productively efficient. neither allocatively nor productively efficient. The graph shows the payoff matrix for two competing firms in an oligopolistic market. The columns represent the potential strategies of Producer A and the rows represent the potential strategies of Producer B. The upper-right payoffs in each box represent the payoffs for Producer A and the lower-left payoffs represent the payoffs for Producer B. Producer B (Click to select) Low Price High Price a. Does Producer A have a dominant strategy? (Click to select) Producer A 4 c. The Nash equilibrium is: LOW Price High Price 9 12 b. Does Producer B have a dominant strategy? 10 1 10 Producer A: Low price; Producer B: Low price. Producer A: High price; Producer B: Low price. Producer A: Low price: Producer B: High price. Producer A: High price; Producer B: High price. Oligopolies are considered to be: both productively efficient, but not allocatively efficient. both allocatively and productively efficient. both allocatively efficient, but not productively efficient. neither allocatively nor productively efficient. The graph shows the payoff matrix for two competing firms in an oligopolistic market. The columns represent the potential strategies of Producer A and the rows represent the potential strategies of Producer B. The upper-right payoffs in each box represent the payoffs for Producer A and the lower-left payoffs represent the payoffs for Producer B. Producer B (Click to select) Low Price High Price a. Does Producer A have a dominant strategy? (Click to select) Producer A 4 c. The Nash equilibrium is: LOW Price High Price 9 12 b. Does Producer B have a dominant strategy? 10 1 10 Producer A: Low price; Producer B: Low price. Producer A: High price; Producer B: Low price. Producer A: Low price: Producer B: High price. Producer A: High price; Producer B: High price.

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1 Answer D Oligopoly neither allocative nor productively efficient Explanation Allocative efficiency ... View the full answer