Hotel Price Fixing?Waikiki Beach has two hotels, one run by Juan and a second run by Tulsa. The average cost of providing rooms is constant at $30 per day. Assume that low-price guarantees are illegal. Here are the possible outcomes:

a. Price fixing (cartel). Each firm has 30 customers at a price of $40.

b. Duopoly (no price fixing). Each firm has 40 customers per day at a price of $37.

c. Underpricing (one firm charges $40 and the other charges $37). The low-price firm has 50 customers and high-price firm has 10 customers.

Juan chooses a price first, followed by Tulah. Draw a game tree for the price fixing game and predict the outcome