Question: Question A, B, and C are below the intro to the problem and the table. Player 2 Instructions: Answer each question as complete as possible.

Question A, B, and C are below the intro to the problem and the table.

Player 2 Instructions: Answer each question as complete as possible. Do not make any markings in column A, that is where I put your points. High Low High 1000, 1000 -200, 1200 Player 1 Low 1200, -200 600, 600 The game to the right is a duopoly game, for which each of two firms choose a high price of a low price. Each firm wants to achieve the highest profit possible. Construct the best response function for both firms. Define the Nash equilibrium Strategy and payoff. Is this game equivalent to the Prisoner's dilemma

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