Refer to the payoff matrix below. If each cell has a probability of occurrence of 0.25, what are Healthy Snacks' expected profits?
Healthy Snacks and Best Treats are two firms competing in the health food snacks market. Both are considering introducing a new health food snack made purely of dried power fruits. The payoff matrix shows their net economic profit in millions for the different strategies.
A) $6.5 B) $11 C) $3.5 D) $9.25
A) $6.5
Economics
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