Movie Studio Release Strategy
Galaxy Pictures and Starlight Studios are two movie studios planning the release of their next blockbuster films. They can choose either a 'Summer Release' or a 'Holiday Release'. The table below shows the potential box office revenue (in millions of dollars) for each studio based on their choices. The first number in each pair is the revenue for Galaxy Pictures, and the second is for Starlight Studios.
| Starlight Studios: Summer Release | Starlight Studios: Holiday Release | |
|---|---|---|
| Galaxy Pictures: Summer Release | (150, 140) | (250, 200) |
| Galaxy Pictures: Holiday Release | (220, 280) | (180, 170) |
If Galaxy Pictures assumes that Starlight Studios will choose a 'Summer Release', what is Galaxy Pictures' best response? Explain your reasoning.
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