Question: Pls answer all use the following information to answer questions 39-40. Two firms face the following payoff matrix show to the below. Firm 2 Low

Pls answer all

Pls answer all use the following information to answer questions 39-40. Two

use the following information to answer questions 39-40. Two firms face the following payoff matrix show to the below. Firm 2 Low Price High Price Low Price 0 , 8 Firm 1 8 , 4 High Price 24, 0 28, 24 39. Does either firm have a dominant strategy? A. Firm 1's dominant strategy is to set the high price, and Firm 2's dominant strategy is to set the high price. B. Firm 1's dominant strategy is to set the high price, and Firm 2's dominant strategy does not exist . C. Firm 1's dominant strategy does not exist, and Firm 2's dominant strategy is to set the high price. D. Firm 1's dominant strategy does not exist, and Firm 2's dominant strategy does not exist. 40. What is the Nash equilibrium to this game? A. The Nash equilibrium is for Firm 1 to pick the high price and for Firm 2 to pick the low price. B. The Nash equilibrium is for both firms to pick the high price. C. The Nash equilibrium is for Firm 1 to pick the low price and for Firm 2 to pick the high price. D. This game does not have a Nash equilibrium. maxinline price ann ought

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