Hi there!

1. (5 points) Brookshire Brothers and Kroger are two of the major grocery retailers in Nacog- doches. They are engaged in vigorous competition with each other and are considering ag- gressively lowering prices on some staple items. The following game matrix summarizes the possible strategy choices each has and the resulting payoffs in terms of profits. Kroger Keep Prices the Same Drop Prices $250M $280M Keep Prices the Same , $200M $150M Brookshrre Bros $190M $220M Drop Prices $230M $180M If the game is being played simultaneously, what is the equilibrium outcome? Explain how you found it