14. You and your rival must simultaneously decide what price to advertise in the weekly newspaper. If you each charge a low price, you each earn zero profits. If you each charge a high price, you each earn profits of $3. If you charge different prices, the one charging the higher price loses $5 and the one charging the lower price makes $5.

a. Find the equilibrium when there are no repeated transactions.

b. Now suppose there are repeated transactions.

How would that change the results?