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Suppose that two firms face the payoff matrix - what is

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Suppose that two firms face the following payoff matrix:

Firm 2	Firm 1
		Low price	High price
	Low price	(2, 0)	(1, 2)
	High price	(0, 7)	(6, 6)

Given these payoffs, Firm 2 wants to match firm 1's price, but firm 1 does not want to match firm 2's price. What is the mixed strategy nash equilibrium for the game?

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Game Theory: Suppose that two firms face the payoff matrix - what is

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Game Theory: Suppose that two firms face the payoff matrix - what is

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