• Suppose that Fizzy Soda and Townie Soda must choose whether to advertise their soft drinks. In a Nash equilibrium, both firms choose to advertise and earn weekly profits of $80,000. Which of the following statements is (are) TRUE?
• I. Neither firm has incentive to change its advertising strategy, given the strategy choice of its rival.
• II. If Townie Soda decided to stop advertising, its profits would fall below $80,000.
• III. If both firms stopped advertising, it is possible that each firm could earn profits greater than $80,000