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Consider the following game. Firm A and Firm B are the only two producers of fresh milk. A new product; fresh milk with dates is

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Consider the following game. Firm A and Firm B are the only two producers of fresh milk. A new product; fresh milk with dates is designed to displace fresh milk. Each firm has to choose a strategy of either to LIMIT or EXPAND the fresh milk with dates production. The payoff matrix shows the revenue of each strategy. Firm B Limit Expand Firm A Limit RMIGG 5,31, 9 I; RM-50 RM] 50 Based on the payo matrix above: a) by using a decision tree owchart explain how the Nash equilibrium is obtained by taking into account the concepts dominant strategy. (6 marks} b) state the Nash equilibrium in this game theory. (2 marks} :3) briey, explain whether this game has similarities to the concept of the prison dilemma. (2 marks)

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