Refer to the following strategic form game of price competition for question.
Firm B Low PriceHigh PriceFirm A Low Price 0 , 0 50 , -10 High Price-10 , 5025 , 25
Suppose the game is infinitely repeated. What strategies will each firm utilize?
a. firm A will charge a low price, and firm B will charge a low price.
b. firm A will charge a low price, and firm B will charge a high price.
c. firm A will charge a high price, and firm B will charge a high price.
d. firm A will charge a high price, and firm B will charge a low price.