Question: 1 . ) Two firms, Small and Large, compete by price. Each can choose either a low price or a high price. The following table

1.) Two firms, Small and Large, compete by price. Each can choose either a low price or a high price. The following table shows the profit(in thousands of dollars) each firm would earn in each of the four possible decision situations:
\table[[,,Large],[,,Low price,High price],[Small,Low price,$200,$500,$600,$600],[,$0,$1,500,$400, $1,000],[High price,$0,$1,500,$400, $1,000]]
a.) Is there a dominant strategy for Small? If so, what is it? Why?
b.) Is there a dominant strategy for Large? If so, what is it? Why?
c.) What is the likely pair of decisions? What payoff will each receive?
1 . ) Two firms, Small and Large, compete by

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