Suppose that Flashfry and Warmbreeze are the only two firms in a hypothetical market that produce and sell air fryers. The following payoff matrix gives profit scenarios for each company (in millions of dollars), depending on whether it chooses to set a high or low price for fryers.

Suppose that Flashfry and Warmbreeze are the only two firms in a hypothetical market that produce and sell air fryers. The following payoff matrix gives profit scenarios for each company (in millions of dollars), depending on whether it chooses to set a high or low price for fryers. For example, the lower-left cell shows that if flashfry prices low and Warmbreeze prices high, Fashfry will eam a profit of $15 million, and Warmbreeze will earn a profit of $2 million. Assume this is a simultaneous game and that Fashify and Warmbreeze are both profit-maximizing firms. If Fhashfry prices high, Warmbreeze will make more proft if it chooses a price, and if Flashfry prices low, Warmbreeze will make more proft if it chooses a price. If Warmbreeze prices high, Fashfry will make more profit if it chooses a price, and if Warmbireete prices low, Flashfry will make more proft if it chooses a price. Considering all of the information given, pricing high a dominant strategy for both flashfry and Warmbreeze. If the firms do not collude, what strategies will they end up choosing? Both Flashfry and Warmbreeze will choose a high price. Both Flashfry and warmbreeze will cheose a low prich. Flathfry will choose a high price, and Warmbreeze will choose a low price. Floshfry will dhoose a low price, and Warmbreeze will choose a high price. If the firms do not collude, what strategies will they end up choosing? Both Flashfry and Warmbreeze will choose a high price. Both Flashfry and Warmbreeze will choose a low price. Flashfry will choose a high price, and Warmbreeze will choose a low price. Flashify will choose a low price, and Warmbreeze will choose a high price. True of False: The game between Flashifry and Warmbreeze is an example of the prisoners' dilemma. Trun False