This Question Refers to the Payoff Matrix Below Where Profits $\text { United }$

question 29

Essay

This question refers to the payoff matrix below where profits for United Airlines and American airlines are shown for alternative pricing strategies. The airlines can either hold prices where they are or engage in price cutting activity.


                                  $\text { United }$
$\begin{array}{l}\begin{array} { l } \\\text {American} & \text { hold rates}\\\\ & \text { cut rates}\end{array}\begin{array} { l } \hline \text { hold rates } & \text { cut rates } \\\hline \mathrm{U}=100 & \mathrm{U}=160 \\\mathrm{~A}=100 & \mathrm{~A}=60 \\\hline \mathrm{U}=80 & \mathrm{U}=70 \\\mathrm{~A}=150 & \mathrm{~A}=70\end{array}\end{array}$
Does either airline have a dominant strategy? If so, what is it?