Smalltown has 140 residents and two mobile phone providers: Verizon and AT&T Each firm's costs: FC=$0, MC $10. Assume the two firms collude and share the profits equally. Is there a Nash Equibrium? P QTR 45 50 40 60 35 70 30 80 25 90 20 100 15 110 10 120 5 130 0 140 TC Profit O Yes, each firm produces 40 goods and charges $30 O No, each firm will continue to cheat until they each make $0 profits O Yes, because Verizon has a dominant strategy O Yes, each firm produces 45 goods and chargers $25

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