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Could you please help me with the following? E Homework: HW 6 1.8 points Part 1 of 3 Points: 0 of 2 Save up Firm

Could you please help me with the following?

E Homework: HW 6 1.8 points Part 1 of 3 Points: 0 of 2 Save up Firm 1 and Firm 2 manufacture blankets. They compete in quality. Given their payoff matrix, identify each firm's best response to its rival's actions. What is the Nash equilibrium? Firm 1 If Firm 2 picks low, then Firm 1 should pick if Firm 2 picks medium, Low Medium High om then Firm 1 should pick and if Firm 2 picks high, then Firm 1 should 2 4 pick Low its a 2 4 10 Firm 2 6 8 16 Medium tudy 6 8 6 14 12 10 High 4 10 8

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