Two firms in Ithaca both making sandwiches have two strategies available:   charge a low price and charge a high price.    In each cell (box) the first entry is the profit to Angie’s Sandwiches (AS) and the second entry is the profit per week for James Jems. (JJ)   JJ charges low price JJ charges high price AS charges low price $20,000, $20,000 $45,000, $50,000 AS charges high price $50,000, $35,000 $30,000, $30,000   1.   Is there a Nash Equilibrium?   Where is it?   Explain.   2.   In which cell will the total profit be a maximum?

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