Two companies share a market, in which they currently make $5,000,000 each. Both need to determine whether they should advertise. For each company advertising costs $2,000,000 and captures $3,000,000 from the competitor provided the competitor doesn’t advertise. What should the companies do? Write your discussions and and Explanations in full details. Please help me with this in full. I appreciate your valuable assistance.

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Pricing

Pricing is used as a term in finance and economics, pricing is the process of fixing a value for a product or a service. Pricing establishes a value for a product or service that the customer has to pay. A business can choose from different strategies while deciding to set prices.