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Company X and Company Y have to decide whether they want to advertise their product

Economics

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Company X and Company Y have to decide whether they want to advertise their product. Use the payoff matrix below to answer the question below. Company X Company Y Advertise Advertise X: $10,000 Y: $10,000 X: $7,000 Y: $7,000 Don't Advertise X: $5,000 Y: $5,000 X: $2,000 Y: $10,000 Don't Advertise
12. Is there a Nash Equilibrium in this market? If so, what is it? 13. Does Company X have a dominant strategy? If so, what is it? 14. Does Company Y have a dominant strategy? If so, what is it? ly 15. True or false: Company X and Company Y's payoff matrix represents a prisoner's dilemma.