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AP Microeconomics3.12 Assignment BJohn and Anne are the only two suppliers of snacks at school while everyone waits for aride after sports and clubs. Each student can choose to set a high price or a low pricefor their goods. The payoff matrix below shows the daily profits for each combination ofprices that John and Anne could set. The first entry shows Anne's profits, and thesecond entry shows John's profits. Assume that both students know the informationshown in the matrix. Study the matrix, and then answer the questions that follow.JohnHigh PriceLow PriceAnneHighPrice$21, $22$8, $26LowPrice$24, $16$15, $141.Do John and Anne each have a dominant strategy to set a high price, a dominant