xvfx Back Problem 9 Two oligopolistic firms have to decide on the pricing strategy. Each can either choose either a high or a low price. If they both choose a high price, each will make $8 million, but if they both choose a low price, each will make $ 6 million. If one sets a high price and other a low one, the low-priced firm will make $12 million, but the high-priced firm will make only $5 million. It is illegal for each firm to communicate with each other. Which strategy would be both firms settled on to avoid a potential loss of profits? What would be the EMV (profit) for each of these two firms? Workspace Firm's 1 Price Low High High Firm's 2 Price Low