Suppose two companies,Sony and Magnavox,are competing in a duopoly.If both companies charge a high price,they each earn $700 million in economic profit.If both companies charge a low price,they each earn $500 million in economic profit.If one company charges a high price and the other a low price,the company charging the higher price earns $450 million in economic profit and the company charging the lower price earns $800 million in economic profit.
a.Complete the payoff matrix below for Sony and Magnavox. 
b.Find the Nash equilibrium.
Definitions:
Demand Estimation
The process of determining the expected demand for a product or service, considering various market conditions and factors.
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