You run a TrustedHousesitters franchise, a service for pet-owners, with a single competitive rival in your town, Wag! Each of you can choose either a high price or a low price. The choices you and your rival can make lead to the outcomes shown in the payoff matrix. In this situation, you both have: Payoff Matrix for TrustedHousesitters and Wag! Wag! charges a high price Wag! charges a low price TrustedHousesitters charges a high price TrustedHousesitters makes a large profit Wag! makes a large profit TrustedHousesitters makes a small loss Wag! makes a very large profit TrustedHousesitters charges a low price TrustedHousesitters makes a very large profit Wag! makes a small loss TrustedHousesitters makes a small profit Wag! makes a small profit Question 7 options: a best response. a first-mover advantage. multiple equilibria. a coordination game