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The question I need help with is in the screenshot! 5. Consider the following Prisoner's Dilemma stage game, which is inniter repeated between Firm 1

The question I need help with is in the screenshot!

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5. Consider the following Prisoner's Dilemma stage game, which is inniter repeated between Firm 1 and Firm 2. Each rm can set a high price (PH) or a low price (PL). Suppose that both rms are setting the high price. Does it pay either rm to cut its price? Assume tit-for-tat reactions to price changes

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