-Two firms are competing in a duopoly and are trying to decide which price to set.The two prices under consideration are a high monopoly price and a low competitive level.If both seller A and seller B chose the monopoly price,each will earn $20 million of economic profit.However,if one picks the monopoly price while the other picks the competitive price,the high-price firm will lose $1 million while the low-price firm will earn $32 million.If both sell at the competitive level,they both earn a normal profit.Complete the payoff matrix below and determine the Nash equilibrium.

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-Two firms are competing in a duopoly and are trying to decide which price to set.The two prices under consideration are a high monopoly price and a low competitive level.If both seller A and seller B chose the monopoly price,each will earn $20 million of economic profit.However,if one picks the monopoly price while the other picks the competitive price,the high-price firm will lose $1 million while the low-price firm will earn $32 million.If both sell at the competitive level,they both earn a normal profit.Complete the payoff matrix below and determine the Nash equilibrium.

-Two Firms Are Competing in a Duopoly and Are Trying