____ is a new product pricing strategy which results in a high initial product price. This price is reduced over time as demand at the higher price is satisfied

The only two firms in a market are trying to decide what price to charge. The payoff matrix for this duopoly game is shown above. The payoffs are thousands of dollars of economic profit. In the above game, in the Nash equilibrium,

A) Firm A and Firm B are both making $40,000 in economic profit. B) Firm A and Firm B are both making $55,000 in economic profit. C) Firm A is making $60,000 and Firm B is making $55,000 in economic profit. D) Firm A and Firm B are both making $60,000 in economic profit. E) Firm A and Firm B are both making $35,000 in economic profit.

In the economic way of thinking,

A) buyers compete against other buyers, sellers cooperate with other sellers, and buyers cooperate with sellers. B) buyers cooperate with other buyers, sellers cooperate with other sellers, and buyers compete with sellers. C) buyers compete against other buyers, sellers compete against other sellers, and buyers cooperate with sellers. D) buyers cooperate with other buyers, sellers cooperate with other sellers, and buyers cooperate with sellers.