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Safari File Edit View History Bookmarks Window Help 20% D' Thu 11:05 PM QE rpcc.instructure.com 0 RPCC Canvas Help Quiz: Final Exam Chegg Study | Guided Solutions and Study Help | Chegg.comm Firm A's strategies P=$10 Account $40 535 P-$10 $40 560 Firm B's Dashboard $60 $55 P $20 535 Courses Calendar The only two firms in a market are trying to decide what price to charge The payoff matrix for this game is shown above. The payoffs are thousands of dollars of economic profit. If this is a dynamic maket and Firm A sets its price at $20 what profit will Firm B likely earn? Inbox Help $35,000 60,000 $40,000 55,000 Our Better Grades Guarantee Terms

Explanation / Answer

If firm A sets the price at $20, firm B will set the price at $10 and earn $60,000.

OPTION B

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