Newco plans to enter the U.S. market with either Product X, Product Y, or both. Oldco, a U.S.- based company and a producer of Product X as well, will respond, depending on Newco’s decision. 

The scenarios are as follows: 3 - If Newco decides to proceed with Product X, Oldco will either maintain the status quo, expand its production capacity, or lower the price. The respective payoffs of Newco and Oldco are (20, 8), (6, 17), and (9, 15). - If Newco decides to proceed with Product Y, Oldco’s strategy space remains unchanged and the payoffs become(25, 9), (80, 15), and (14, 40), respectively. - If Newco decides to proceed with both products, Oldco’s strategy space will also remain unchanged and the payoffs become (22, 35), (32, 12), and (58, 37), respectively. 

You are required to: 

a) Represent this game with a game tree. [5%] 

b) What outcome can be expected? [5%] 

c) Briefly explain your solution process. [5%] 

d) If going with both products is no longer a strategy option for Newco, what would be the expected outcome?