Question: Please be advised that i went with $25 for each and the bot reply was one of the answers is incorrect please explain how you

Please be advised that i went with $25 for each and the bot reply was "one of the answers is incorrect" please explain how you come up with the answer.

Please be advised that i went with $25 for each and the

Concept: Escape Prisoners' Dilemma Questi Consider a market with two firms, Hewlett-packard (HP) and Dell, that sell printers. Both companies must choose whether to charge a high price ($400) or a low price ($350) for their printers. These price strategies with corresponding profits are depicted in the payoff matrix to the right. HP's profits are in red and Dell's are in blue. Suppose HP and Dell are initially at the game's Nash equilibrium. Then, HP and Dell advertise that they will match any lower price of their Price = $400 Price = $350 competitors. For example, if HP charges $350, then Dell will match that price and also charge $350. $60 $10 Price = $400 What effect will matching prices have on profits (relative to the Nash equilibrium $60 $80 without price matching)? Dell Assuming HP and Dell can coordinate to maximize profits, HP's profit will change $80 $30 by $ 25 and Dell's profit will change by 25 . (Enter either positive or negative Price = $350 numeric responses using integers.) $10 $30 Enter your answer in the edit fields and then click Check

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