Section 2: Written Questions (24 points): 1) The table shows the profits (in dollars per day) of two firms, given a strategy of either high or low spending on advertisement for Firm A and high or medium or low spending for Firm B. Firm B Firm A High Medium Low High A: 700; B: 200 A: 300; B: 250 A: 400; B: 150 Low A: 600; B: 700 A: 200; B: 600 A: 450; B: 800 A. Answer the following questions regarding the best responses of each player. (3 points) If Firm B chooses "High", Firm A would choose If Firm B chooses "Medium", Firm A would choose If Firm B chooses "Low", Firm A would choose If Firm A chooses "High", Firm B would choose If Firm A chooses "Low", Firm B would choose B. Is there a dominant strategy for each firm? If yes, what is a dominant strategy for Firm A and what is a dominant strategy for Firm B? (2 points)