Question: A towns two gas stations are each considering lowering prices to attract more sales. How this affects the profits for each gas station depends on

A town€™s two gas stations are each considering lowering prices to attract more sales. How this affects the profits for each gas station depends on whether the other also lowers prices. The decision matrix in Figure 9P-2 shows the payoffs, depending on what each player decides to do. Identify any Nash equilibria.

Gas Station B Lower price Higher price 35,000 $65,000 $35,000 $125,000 $125,000 $95,000 $65,000 $95,000

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