Refer to Table 14.6. If both firms follow a maximin strategy, the equilibrium in the game is

A) (Advertise, Advertise) .
B) (Don't Advertise, Don't Advertise) .
C) (Don't Advertise, Advertise) .
D) (Advertise, Don't Advertise) .

Maximin Strategy

A decision rule used in game theory and decision-making to maximize the minimum gain that can be achieved.

Equilibrium

A state in an economy where supply equals demand, leading to a stable price for goods and services.

Advertise

The act of promoting products, services, or ideas through various media channels to influence consumer behavior.