be willing to spend to reduce its marginal cost to $25,assuming that Te xas Air will have marginal costs of $25 regardless of american's actions? 2 Two competing firms are each planning to introduce a new product.Each will decide whether to produce Product A,Product B,or Product C.They will make their choices at the same time.The resulting payoffs are shown below.We are given the following payoff matrix,which describes a product introduction game: Firm 2 A B 0 -10-10 0,1010,20 Firm I B 100 20.20.5.15 C 20.1015.-5 -30.-30 a.Are there any Nash equilibria in pure strategies?If so,what are they? b.If both firms use maximin strategies,what outcome will result? c.If Firm I uses a maximin strategy and Firm 2 knows,what will Firm 2 do?be willing to spend to reduce its marginal cost to $25, assuming that Texas Air will have marginal costs of $25 regardless of American’s actions? 2 Two competing firms are each planning to introduce a new product. Each will decide whether to produce Product A, Product B, or Product C. They will make their choices at the same time. The resulting payoffs are shown below. We are given the following payoff matrix, which describes a product introduction game: Firm 2 A B C A -10,-10 0,10 10,20 Firm 1 B 10,0 -20,-20 -5,15 C 20,10 15,-5 -30,-30 a. Are there any Nash equilibria in pure strategies? If so, what are they? b. If both firms use maximin strategies, what outcome will result? c. If Firm 1 uses a maximin strategy and Firm 2 knows, what will Firm 2 do?