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Question 14 7.5 pts The following table shows two firms in a single-stage duopoly game. Each firm makes its decision without knowledge of the other

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Question 14 7.5 pts The following table shows two firms in a single-stage duopoly game. Each firm makes its decision without knowledge of the other firm's decision. The payoffs for each firm represent economic profits, and each firm strictly prefers more economic profit than less. Assume the firms are not able to collude. The Nash equilibrium total quantity of potatoes on the market is Country Potato Farm Produce 5,000 potatoes Produce 7,000 potatoes $25,000 $35,000 Produce $25,000 $10,000 5,000 City Potato potatoes Farm $10,000 $12,000 Produce $35,000 $12,000 7,000 potatoes O 4,000 O 24,000 O 14,000 12,000 10,000

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