Two competing firms, Firm A (the row player) and Firm B (the column player), must simultaneously decide whether to set a 'High Price' or a 'Low Price' for their product. The payoff matrix below shows the daily profits for each firm based on their decisions, with payoffs listed as (Firm A's profit, Firm B's profit).
| Firm B: High Price | Firm B: Low Price | |
|---|---|---|
| Firm A: High Price | ($100, $100) | ($30, $150) |
| Firm A: Low Price | ($150, $30) | ($60, $60) |
By identifying each firm's best response to the other's potential strategy, determine the likely outcome of this game.
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