[Solved] Below Is a Profit Pay-Off Matrix for Two Oligopoly Firms

Question 52
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Below is a profit pay-off matrix for two oligopoly firms: North and South.North's profits are shown in the upper portion of each box and South's are in the lower portion.
-Refer to the information above to answer this question.If both North and South are independently following a low output policy and North assumes that South will stay with its policy,what is North's best course of action?

A)Remain with a low output policy.
B)To try to convince South to adopt a high output policy.
C)Adopt a high output policy independent of South.
D)It is better for North to ignore South's actions when making its decisions.


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