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figure below shows the payoff matrix for the only two auto dealerships in a community, jim's autos and tim's autos. the matrix shows the profits that each firm would earn from choosing either a low price or a high price. the equilibrium level of profit for jim's autos would be group of answer choices

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The equilibrium level of profit for Jim's autos would be $100,000.

Income equilibrium is the point at which all the company's planned goods can be sold. Pretty easy. The company produces products at this level and sells exactly the same amount. A firm's output, or production, satisfies consumer demand to purchase its products.

Equilibrium is found when the desired output demanded by all parties in the economy is exactly equal to the amount produced in a particular period. The equilibrium level of national income is a condition or state in which economic forces are balanced. Defined as the point at which aggregate supply equals aggregate demand.

Learn more about Equilibrium here:-https://brainly.com/question/517289

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