Consider the following matrix which describes the respective strategies and the corresponding pay-offs of firms A and B operating in a duopoly :
Which of the following statement(s) is/are true for the above game?
Select the correct answer from the codes given below :
(a) Firm A has no dominant strategy.
(b) Firm B has a dominant strategy.
(c) The game has a Nash equilibrium.
(d) Neither Firm A nor Firm B has a dominant strategy.
1
(a), (c)
2
(b), (c)
3
(d) only
4
(a), (b) and (c)