Use the following payoff matrix which depicts the profits for Firms X and Y who are trying to decide whether to choose a high or low price in their competitive strategy with each other. They are the only two firms in this oligopolistic industry. Firm Y Low Price High Price Firm X Low Price Firm X's profit: $1,600 Firm Y's profit: $2,500 Firm X's profit: $1,800 Firm Y's profit: $2,100 High Price Firm X's profit: $1,800 Firm Y's profit: $2,000 Firm X's profit: $2,000 Firm Y's profit: $2,400 (Scenario 65-2: Payoff Matrix for Firms X and Y) The Nash equilibrium in this game is:.

Which of the following statements is true of unsought products? as compared to convenience products, unsought products are purchased more frequently. unsought products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. a life insurance policy is an example of an unsought product. unsought products have strong brand identification for which a significant group of buyers is willing to make a special purchase effort. unsought products are those products purchased for further processing or for use in conducting a business.