Question: Consider the table below representing the interaction of two oligopolistic firms: Firm B High Price Low Price High Price (5, 5) (1,10) Firm A Low

Consider the table below representing the interaction of two oligopolistic firms: Firm B High Price Low Price High Price (5, 5) (1,10) Firm A Low Price (10, 1)(2, 2) Using best response analysis determine what the equilibrium outcome of the game. The first number in parentheses is the payoff for Firm A and the second number is the payoff for Firm B. Firm A: High, Firm B: High Firm A: Low, Firm B: Low Firm A: High , Firm B: Low Firm A: Low, Firm B: High There is no equilibrium

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