(Figure: Payoff Matrix for Blue Bottle and Opal Ocean) Use Figure: Payoff Matrix for Blue Bottle and Opal Ocean. The figure shows the potential profits of two producers of bottled water. Each has two strategies available to it: a high price and a low price. The Nash equilibrium occurs when Blue Bottle charges a _____ price and Opal Ocean charges a _____ price.

A)high; high
B)low; low
C)high; low
D)low; high

Question

(Figure: Payoff Matrix for Blue Bottle and Opal Ocean) Use Figure: Payoff Matrix for Blue Bottle and Opal Ocean. The figure shows the potential profits of two producers of bottled water. Each has two strategies available to it: a high price and a low price. The Nash equilibrium occurs when Blue Bottle charges a _____ price and Opal Ocean charges a _____ price.
​
 
A)high; high 
B)low; low 
C)high; low 
D)low; high ​

Quizplus · Accepted Answer

The Answer of (Figure: Payoff Matrix for Blue Bottle and Opal Ocean) Use Figure: Payoff Matrix for Blue Bottle and Opal Ocean. The figure shows the potential profits of two producers of bottled water. Each has two strategies available to it: a high price and a low price. The Nash equilibrium occurs when Blue Bottle charges a _____ price and Opal Ocean charges a _____ price.
​
 
A)high; high 
B)low; low 
C)high; low 
D)low; high ​