6. Using a payoff matrix to determine the equilibrium outcome Suppose there are only two firms that sell tablets: Padmania and Capturesque. The following payoff matrix shows the profit (in millions of dollars) each company will earn, depending on whether it sets a high or low price for its tablets. Capturesque Pricing High Low High 3,15 Padmania Pricing 11.11 15,3 Low 9,9 For example, the lower left cell shows that if Padmania prices low and Capturesque prices high, Padmania will earn a profit of $15 million, and Capturesque will earn a profit of $3 million. Assume this is a simultaneous game and that Padmania and Capturesque are both profit-maximizing firme. if Padmania prices high, Capturesque will make more profit if it chooses a price, and if Padmania prices low. Capturesque will make more profit if it chooses a price. If Capturesque prices high, Padmania will make more profit if it choose a price, and if Capturesque prices low, Padmania will make more profit if it chooses a price. Considering all of the information given, pricing low a dominant strategy for both Padmania and Capturesque. If the firms do not collude, what strategies will they end up choosing? O Both Padmania and Capturesque will choose a low price. O Padmania will choose a high price, and capturesque will choose a low price. O Both Padmania and Capturesque will choose a high price. Padmanla will choose a low price, and capturesque will choose a high price, True or False: The game between Padmania and Capturesque is an example of the prisoners' dilemma. True False