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Q3 Consider a modified form of the previous game where there is a new possible action: Produce low and then sell the company to the
Q3 Consider a modified form of the previous game where there is a new possible action: Produce low and then sell the company to the other firm for one penny (Sell). The matrix form is now as follows: Firm 2 High Low Sell Firm 1 High 10, 10 30, 5 35, 0 Low 5, 30 20, 20 60, 0 Sell 0, 35 0, 60 0, 0* a. Are there any dominant strategies? b. Use iterated elimination of strictly dominated strategies (IESDS) to find the unique surviving set of strategies. Show your work
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