Westinghouse and General Electric are competing on the newest version of clothes washer and dryer combinations. Two pricing strategies exist: price high or price low. The profit from each of the four possible combinations of decisions is given in the following payoff matrix:
Westinghouse's price
High ($4000) Low ($2000)
General Electric's
price High ($4000)
Low ($2000)
Payoffs in dollars of profit.
b) Does either firm have a dominant strategy?