|Red Pants||Red Pants|
|Strategy 1||Strategy 2|
|Blue Shirts||Strategy 1||\$3000, \$1500||\$2000, \$1000|
|Blue Shirts||Strategy 2||\$2000, \$500||\$1000, \$3000|
The payoff matrix above shows the possible profits associated with the strategic decisions that could be made by two oligopolistic firms, Blue Shirts Company and Red Pants Company. The first numbers in each cell represent the profits that Blue Shirts can expect to earn, while the second numbers represent Red Pants’ potential earnings. What are the dominant strategies for Blue Shirts and Red Pants, respectively?