The Following Matrix Displays the Advertising Rates and the Resultant

The following matrix displays the advertising rates and the resultant profits (in thousands of dollars) for two rival newspapers in a major city.
$\begin{array}{c}\quad\quad \text { FIRM B } \\ \begin{array}{ | l | c | c | } \hline \text { FIRM A } & \text { High ad rate } & \text { Low ad rate } \\\hline \text { High ad rate } & 20,20 & 12,26 \\\hline \text { Low ad rate } & 26,12 & 15,15 \\\hline\end{array}\end{array}$ (a) Assume that the newspapers set their advertising rates independently. Determine the optimal strategy for each firm. Explain briefly.