7. Consider a market with two firms, Hewlett-packard (HP) and Dell, that sell printers. Both companies must choose whether to charge a high price ($400) or a low price ($350) for their printers. These price strategies with corresponding profits are depicted in the payoff matrix' to the right. HP's profits 9 are in red and Dell's are in blue. Suppose HP and Dell are initially at the game's Nash equilibrium. Price = $400 Price = $350 Then, HP and Dell advertise that they will match any $60 $10 lower price of their competitors. For example, if HP Price = $400 charges $350, then Dell will match that price and also $60 $80 charge $350. Dell What effect will matching prices have on profits $80 $30 (relative to the Nash equilibrium without price Price = $350 matching)? $10 $30 Assuming HP and Dell can coordinate to maximize profits, HP's profit will change by $ and Dell's profit will change by (Enter either positive or negative numeric responses using integers.) 1: Definition Payoff matrix A table that shows the payoffs that each firms earns from every combination of strategies