Megan and Martha own competing hair salons that are in the same neighborhood. They are both considering offering their clients discounts in order to increase business. The payoff matrix shows their yearly incomes in thousands of dollars if they offer and do not offer discounts to their customers. Martha Megan Discount No Discount Discount $50, $75 $75, $60 No Discount $35, $90 $70, $85 If both Megan and Martha did not discount, what would each earn in yearly income

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26-05-2022
Business

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Megan and Martha own competing hair salons that are in the same neighborhood. They are both considering offering their clients discounts in order to increase business. The payoff matrix shows their yearly incomes in thousands of dollars if they offer and do not offer discounts to their customers. Martha Megan Discount No Discount Discount $50, $75 $75, $60 No Discount $35, $90 $70, $85 If both Megan and Martha did not discount, what would each earn in yearly income

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Parrain Parrain · Answer 1 · 2022-06-08T14:23:46+02:00

Based on the given payoff matrix, if both Megan and Martha decide not to discount, Megan would earn $70,000 and Martha would earn $85,000.

What happens when Martha and Megan don't discount?

The payoff matrix shows that the figures at the intersection of when both Megan and Martha refuse to give a discount, is $70 for Megan and $85 for Martha.

Seeing as these figures are in thousands of dollars, this means that Megan gets $70,000 and Martha gets $85,000.

Find out more on payoff matrices at https://brainly.com/question/16257206.

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