Question: Time left 0 : 3 3 : 3 1 Firms 1 and 2 form a duopoly. They need to make a simultaneous choice in a

Time left 0:33:31
Firms 1 and 2 form a duopoly. They need to make a simultaneous choice in a new venture. Firm 1 must choose one of three possible strategies: A,B or C. Firm 2 must choose one of two possible strategies: A or B . The following table shows all possible scenarios in terms of choices and payoffs. Regarding this game, which statement is correct?
\table[[Choices,\table[[Firm 1: A],[Firm 2: A]],\table[[Firm 1: A],[Firm 2: B]],\table[[Firm 1: B],[Firm 2: A]],\table[[Firm 1: B],[Firm 2: B]],\table[[Firm 1: C,AFirm 1: C],[Firm 2: A,Firm 2: B]]],[],[,,Firm 1:$50,Firm 1: $40,Firm 1: $60,Firm 1:$50],[Payoffs,Firm 1: $80,Firm 1: $30 Firm 2: $100,Firm 2: $60,Firm 2: $75,Firm 2: $40,Firm 2: $50
Time left 0 : 3 3 : 3 1 Firms 1 and 2 form a

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