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Firm 2 High Low High $100, $50 $50, $90 Firm 1 Low $80, $40 $20, $10 2. The game theory matrix shows the profit for
Firm 2 High Low High $100, $50 $50, $90 Firm 1 Low $80, $40 $20, $10 2. The game theory matrix shows the profit for two firms deciding whether to price high or price low. Firm 1 is the blue numbers on the left. a. Does firm 1 have a dominant strategy? b. Does firm 2 have a dominant strategy? c. What is the profit level of firm 1 at Nash Equilibrium? Firm 2
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