Question: Table 1 7 - 1 7 . Consider a small town that has two grocery stores from which residents can choose to buy a gallon
Table Consider a small town that has two grocery stores from which residents can choose to buy a gallon of milk. The store owners each must make a decision to set a high milk price or a low milk price. The payoff table, showing profit per week, is provided below. The profit in each cell is shown as Store Store
Store
Low Price
High Price
Store
Low Price
High Price
Refer to Table If grocery store sets a low price, what price should grocery store set? And what will grocery store s payoff equal?
High price, $
Low price, $
Low price, $
High price, $
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