2. Two electricity rms, Firm 1 and Firm 2, are competing in the National Electricity Market by choosing the price to charge for each unit of power they produce. They can each choose to charge a high price (H), a medium price (M), or a low price (L). Charging a low price means they will make almost no revenue on the sale, and so make substantial negative prot. Charging a high or medium price will guarantee some prot, With the level of prot depending on the choice of the other rm. The payoff for each rm depending on their own action, and the action of their opponent, is given in the matrix below. Firm 1 H1 M1 L1 H2 7 9 5 7 4 4 Firm 2 M2 4 5 '5 9 5 0 4 _ L2 0 5 5 5 5