Question: Information Answer the question based on the following payoff matrix for a duopoly. The numbers indicate the profit in thousands of dollars for a high-price

Information Answer the question based on the following payoff matrix for a duopoly. The numbers indicate the profit in thousands of dollars for a high-price or a low-price strategy. (5 points) Econ Co High Price Low Price Firm Y High price Econ Co = $800 Econ Co = $750 Y = $800 Y = $300 Low price Econ Co = $300 Econ Co = $390 Y =$750 Y =$390 Q8 Refer to the above payoff matrix. What is the Nash equilibrium? (2.5 points)

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