Question: Answer the question based on the following payoff matrix for a duopoly of Wilson Athletics and Econ Ball Company (the two firms are making

Answer the question based on the following payoff matrix for a duopoly of Wilson Athletics and Econ Ball Company (the two firms are making up the ball market). The numbers indicate the profit in millions of dollars for a high-price or a low-price strategy. (20 points) Wilson (rows) High price Low price Econ Ball Company (columns) High Price Low Price Econ Co= $1000 Wilson = $1000 Econ Co = $125 Wilson = $2000 Econ Co= $2000 Wilson = $125 Econ Co=$100 Wilson $100 = Refer to the above payoff matrix. A. If you are Econ Ball Co, and you move first, what would you choose? (5 points) B. Is there a first-mover advantage? Explain for credit. (5 points) C. What is the Nash equilibrium? Explain why. (5 points) D. Is the Nash equilibrium a Prisoner's Dilemma? Why or why not? (5 points)

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