Table 17-12
Suppose That Angelina and Brad Own the Only

question 202

Essay

Table 17-12
Suppose that Angelina and Brad own the only two professional photography stores in town. Each must choose between a low price and a high price for senior photo packages. The annual economic profit from each strategy is indicated in the table below:
Angelina
Low price High price
$\begin{array}{c}\begin{array}{|l}\hline\\\text { Brad }\\\\\\\hline\end{array}\begin{array} { | l | l | l | } \hline \text { Low price } & \begin{array} { l } \text { Angelina's profit } = \$ 20,000 \\\text { Brad's profit } = \$ 20,000\end{array} & \begin{array} { l } \text { Angelina's profit } = \$ 4,000 \\\text { Brad's profit } = \$ 23,000\end{array} \\\hline { \text { High price } } & \text { Angelina's profit } = \$ 25,000 & \text { Angelina's pro fit } = \$ 22,000 \\& \text { Brad's profit } = \$ 5,000 & \text { Brad's profit } = \$ 22,000 \\\hline\end{array}\end{array}$
-Refer to Table 17-12. Is there a Nash equilibrium? If so, describe it.

---

Definitions:

Neurotransmitters

Chemical messengers in the brain that transmit signals between nerve cells, influencing various functions and mood.

Depressive Symptoms

Signs and symptoms associated with depression, such as persistent sadness, loss of interest in activities, and changes in sleep and appetite.

Unipolar Depression

A mood disorder featuring consistent low mood, lack of interest in activities, and other symptoms without the mood swings found in bipolar disorder.

Identical Twin

A duo born from the same pregnancy, sharing the same genetic material because they originated from a single fertilized egg that split.