Table 17-22
Brian and Matt own the only two bicycle repair shops in town. Each must choose between a low price for repair work and a high price. The annual economic profit from each strategy is indicated in the table. The profits are shown as (Matt, Brian) in each cell.
-Refer to Table 17-22. Which of the following statements is correct?
A)Matt's dominant strategy is to charge a low price.
B)Brian's dominant strategy is to charge a high price.
C)The dominant strategy for both Brian and Matt is to charge a low price.
D)Matt's dominant strategy is to charge a high price.

Question

Table 17-22
Brian and Matt own the only two bicycle repair shops in town. Each must choose between a low price for repair work and a high price. The annual economic profit from each strategy is indicated in the table. The profits are shown as (Matt, Brian) in each cell. 
-Refer to Table 17-22. Which of the following statements is correct?
A)Matt's dominant strategy is to charge a low price. 
B)Brian's dominant strategy is to charge a high price. 
C)The dominant strategy for both Brian and Matt is to charge a low price. 
D)Matt's dominant strategy is to charge a high price.

Quizplus · Accepted Answer

The Answer of Table 17-22
Brian and Matt own the only two bicycle repair shops in town. Each must choose between a low price for repair work and a high price. The annual economic profit from each strategy is indicated in the table. The profits are shown as (Matt, Brian) in each cell. 
-Refer to Table 17-22. Which of the following statements is correct?
A)Matt's dominant strategy is to charge a low price. 
B)Brian's dominant strategy is to charge a high price. 
C)The dominant strategy for both Brian and Matt is to charge a low price. 
D)Matt's dominant strategy is to charge a high price.

Table 17-22 Brian and Matt Own the Only Two Bicycle Repair Shops