This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Firms X and Y face the following payoffs in terms of profits, according to which of two prices - a ... (Read 26 times)

Sufayan.ah

  • Hero Member
  • *****
  • Posts: 512
on: May 25, 2020
Firms X and Y face the following payoffs in terms of profits, according to which of two prices - a high price or a low price - that each one charges. Each firm must choose whether to charge the high price or the low price, but does not know what the other will do.

​Firm X: high priceFirm X low price
Firm Y: high priceX: £10m
Y: £8m		X: £13m
Y: £4m
Firm Y: low priceX: £5m
Y: £9m		X: £7m
Y: £6m
In the absence of collusion, which combination of strategies is most likely to occur?
◦ X sets the high price and Y sets the low price.
◦ Both firms set the low price.
◦ Both firms set the high price.
◦ X sets the low price and Y sets the high price.
◦ Any of the four combinations of strategies is likely, depending on what each firm predicts that its rival is most likely to do.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Sufayan.ah on May 25, 2020

moormoney

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 49% of students answer this correctly


Sufayan.ah

  • Member
  • Posts: 512
Reply 2 on: May 25, 2020
Excellent

bimper21

  • Member
  • Posts: 309
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Cougar - Close-up front face Cougar - Close-up front face
Face of a southern yellowjacket (Vespula squamosa) Face of a southern yellowjacket (Vespula squamosa)
Telangiectasias usually occurs in women and on the face Telangiectasias usually occurs in women and on the face
Vapocoolant spray application while passively stretching the paracervical muscles. Take care to prot Vapocoolant spray application while passively stretching the paracervical muscles. Take care to prot
Common Combining Terms Common Combining Terms
Cutaneous granulomatous lesions on the face of a man suffering from a dermatophytic infection. Cutaneous granulomatous lesions on the face of a man suffering from a dermatophytic infection.
Video: Homeostasis (range of body conditions, normal limits, mild stresses & severe stresses)

For a complete list of videos, visit our video library