(Solved): Problem 9.1 (p. 222) 9.1 Firm 1 and Firm 2 are movie producers. Each has the option of producing a b ...

Problem 9.1 (p. 222) 9.1 Firm 1 and Firm 2 are movie producers. Each has the option of producing a blockbuster romance or a blockbuster suspense film. The payoff matrix displaying the payoffs for each of the four possible strategy combinations (in thousands) is shown below, with Firm I's payoff listed first. The game is played simultaneously. Determine the Nash equilibrium outcome. \table[[,Fign 2],[Romance,Suspense],[Finm 1,Romatice,(5900. $400),($400, $1.000)],[Suspense,(81,000 $400),(5750, $750)]]