QUESTION 9 Consider an industry that consists of two firms, Alpha and Beta, that produce identical products. Suppose that Alpha seeks to preempt Beta by making its capacity decision a year before Beta's. Thus, by the time Beta makes its decision, it will have observed Alpha's choice and must adjust its decision making accordingly. We will assume that each firm always produces at full capacity. Thus, expansion of capacity entails a trade-off. The firm may achieve a larger share of the market, but it may also put downward pressure on the market price. The consequences of each firm's choices are described in the game tree below. Each fimm chooses among three options: no expansion of current capacity, a small expansion, or a large expansion. What is the branch sequence that represents the clear continuous) path of equilibrium of this game? D stands for Do not Expand, S stands for Small, and L stands for Large Do Not Expand ($18, $18) Beta Do Not Expand Small ($15, $20) Large ($9, $18) Do Not Expand Alpha ($20, $15) Beta Small Small ($16, $16) Large (S8, S12) Do Not Expand ($18, $9) Beta Large Small ($12, $8) Large (S0, SO) O Alpha selects Land Beta does not expand. Alpha selects Land Beta selects 5. Alpha selects Sand Beta does not expand. O Alpha and Beta do not expand