Suppose inflationary pressures are so high that maintaining both price and size is no longer a viable strategy. Bumblebee Treats LTD and Firey Eats can either choose to inate. or Shdnkate. o If both choose fnafe, each makes a prot of 50. o If both choose Shrinkafe. each rm makes a prot X 0 Neither rm will prominently display the quantity downsize if they choose Shrinkate. so customers will simply purchase the cheaper box if there is a price difference. The sole shrinkating rm would earn a profit of 2X. Firefly Shrinkflate Inflale \""NOTE: X is the sum of the digits in your student ID. For example. if your student ID is 3927604 then X = 31 and 2X = 62. If the sum is 25. please use X = 26. Bumblebee a. Insert the payoffsiprots for each rm in the above matrix using the information given above. b. What is the best response for Firey when Bumblebee chooses lnate? Why? Find all Nash equilibria of the game. Explain. d. [note: this question is not related to parts (a) (c)] How might the pricing decision of Bumblebee differ from that of an individual iceberg lettuce farmer hoping to sell their product to grocery store chains? 9