Please provide answer with detail to question 8. A/B/C fully

" AutoSave . OHIO MGT ECON COMPLETE_(005).docx - Compati.. O Lee, Willard David LW X Home Insert Draw Design Layout References Mailings Review View Zotero Add-ins Help Writer's Manual Tools TVA Procedures the marginal cost is close to the marginal revenues and ads long as the price is larger than the average variable cost Dell would respond quickly to Hewlett Packard and gateway because they are more closely related in terms of competition than that of saying apple. Apple is competing in a market exclusively because of its range of products. Hewlett Packard and gateway also use Microsoft windows. This caused dell to react quicker since the product alignments are so similar. Dell would look at the pricing structure of both of those industries and moderate accordingly with pricing. 8.Two firms, Small and Large, compete by price. Each can choose either a low price or a high price. The following payoff table shows the profit (in thousands of dollars) each firm would earn in each of the four possible decision situations: Small Low price High price Low price $1,000, $500 $375, $250 Large High price $550, -$100 $575, -$200 a) Is there a dominant strategy for Small? If so, what is it? Why? b) Is there a dominant strategy for Large? If so, what is it? Why? Larger firms c) What is the likely pair of decisions? What payoff will each receive