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Multiple Choice X would find it profitable to cut its price, provided Y also cut its price. О Y would find it profitable to cut its price, provided X also cut its price. О Y would find it profitable to raise its price by $1, provided X would also raise its price by $1. о both firms would profit by simultaneously lowering their prices by $1. X's Prices Y's Prices Y $6 $5 $4 12 14 15 $7 16 15 13 6 11 13 3 $6 19 16 14 7 9 10 $5 18 17 15 Refer to the profits-payoff table for a duopoly. If initially firm X's price was $6 and Y's price was $5,

Multiple Choice X would find it profitable to cut its price, provided Y also cut its price. О Y would find it profitable to cut its price, provided X also cut its price. О Y would find it profitable to raise its price by $1, provided X would also raise its price by $1. о both firms would profit by simultaneously lowering their prices by $1. X's Prices Y's Prices Y $6 $5 $4 12 14 15 $7 16 15 13 6 11 13 3 $6 19 16 14 7 9 10 $5 18 17 15 Refer to the profits-payoff table for a duopoly. If initially firm X's price was $6 and Y's price was $5,

Exploring Economics
Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter15: Oligopoly And Strategic Behavior
Section: Chapter Questions
Problem 11P
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Multiple Choice X would find it profitable to cut its price, provided Y also cut its price. О Y would find it profitable to cut its price, provided X also cut its price. О Y would find it profitable to raise its price by $1, provided X would also raise its price by $1. о both firms would profit by simultaneously lowering their prices by $1.
Transcribed Image Text:Multiple Choice X would find it profitable to cut its price, provided Y also cut its price. О Y would find it profitable to cut its price, provided X also cut its price. О Y would find it profitable to raise its price by $1, provided X would also raise its price by $1. о both firms would profit by simultaneously lowering their prices by $1.
X's Prices Y's Prices Y $6 $5 $4 12 14 15 $7 16 15 13 6 11 13 3 $6 19 16 14 7 9 10 $5 18 17 15 Refer to the profits-payoff table for a duopoly. If initially firm X's price was $6 and Y's price was $5,
Transcribed Image Text:X's Prices Y's Prices Y $6 $5 $4 12 14 15 $7 16 15 13 6 11 13 3 $6 19 16 14 7 9 10 $5 18 17 15 Refer to the profits-payoff table for a duopoly. If initially firm X's price was $6 and Y's price was $5,
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