[See Solution] From the following payoff matrix, where the payoffs are the profits or losses of the two firms, determine (a) whether firm A has a dominant
Question: From the following payoff matrix, where the payoffs are the profits or losses of the two firms, determine (a) whether firm A has a dominant strategy, (b) whether firm B has a dominant strategy, (c) the optimal strategy for each firm, and (d) the Nash equilibrium, if there is one.
*2(d), Yes, there is a Nash equilibrium, please state the strategy for firm A and firm B at Nash equilibrium.
Firm B
Low Price High Price
Low Price (1, 1) (3, - 1)
Firm A
High Price (- 1, 3) (2, 3)
Deliverable: Word Document 
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