Two firms play the game below. Each must choose strategy 1 or 2. They choose their strategies simultaneously and without cooperating with each other. Firm A's payoffs are on the left side of each cell, and Firm B's payoffs are on the right. Firm B Strategy 1 Strategy 2 , Strategy 1 10, 16 8, 12 Film A Strategy 2 13, 12 17, 1O Determine the dominant strategy for each rm. For Firm A, V - For Firm B, V . Because both players have dominant strategies, this game has an equilibrium in dominant strategies. Firm Achooses strategy 1 and Firm B chooses strategy 2 Firm Achooses strategy 2 and Firm B chooses strategy 1 both rms choose strategy 1 both rms choose strategy 2 Two firms play the game below. Each must choose strategy 1 or 2. They choose their strategies simultaneously and without cooperating with each other. Firm A's payoffs are on the left side of each cell, and Firm B's payoffs are on the right. Firm B Strategy 1 Strategy 2 _ Strategy 1 10,16 8, 12 Film A Strategy 2 13, 12 17, 1O Determine the dominant strategy for each rm. For Firm 3' Because bot strategy 1 is a dominant strategy ;an eqUIIIbrIum In dominant strategies. The equilibri V . neither strategy is a dominant strategy strategy 2 is a dominant strategy