Bud and Wise are the only two producers of mango Juice. Bud and Wise are trying to figure out how much of mango Juice to produce. They know:If they boh limit production and produce
10,000gallons a day, they will make the maximum attainable joint economic profit of $200,000a day, or $ 100000 a day each.If either firm expands production and produces 20,000 gallons a day while the other limits production and produces 10,000a day, the one that produces 20,000gallons will make an economic profit of $150,000and the ther will incur an economic loss of $50000If both expand production and produce 20,000gallons a day, each firm will make zero economic profit.Find the Nash equilibrium of the game that Bud and Wise play.