I just wanted to check that my answers are correct.

Refer to the following formula for expected payoff: Expected payoff = [Probability of rival matching x Loss from price cut] + [Probability of rival not matching x Gain from price cut] Suppose the payoff for each of four strategic interactions is as follows: Loss = $800 Gain = $50,000 = $6.0m Instructions: Enter your responses as a whole number. if you are entering any negative numbers if sure to include a negative sign (-) in front of those numbers. a. if the probability of rivals matching a price reduction is 98 percent, what is the expected payoff of a price cut? $- b' if the probability of rivals reducing price even though you don't is 5 percent. what Is the expected payoff of not reducing price? $- c. Based on your answers to (a) and (b), should the rm cut its price? 0 Can't determine from the information given 0 No