Oligopoly and Game Theory Review

What will Breadbasket do if Quicklunch chooses a low price?

• low price

• high price

What will Breadbasket choose if Quicklunch chooses a High PRICE?

• low price

• high price

Does Quicklunch have a dominant strategy? If so what is it?

• Yes, high price

• Yes, low price

• No

Does Breadbasket have a dominant strategy? If so, what is it?

• yes, high price

• yes, low price

• no

What price will Breadbasket choose if Quicklunch chooses a high price?

• low price

• high price

If both companies know all the information in the payoff matrix, what will the daily profit end up being for Quicklunch?

• 130

• 80

• 110

• 70

If both companies know all the information in the payoff matrix, what will be the daily profit for Breadbasket?

• 120

• 75

• 105

• 40

What is LaPizza's daily profit if they choose to Not Advertise?

• 300

• 400

• 200

• 500

Does PieCrust have a dominant strategy? If so, what is it?

• yes, advertise

• yes, not advertise

• no

If both firms know all the information in the payoff matrix, what will be the daily profit of PieCrust?

• 250

• 450

• 180

• 300