According to the logic of backward induction what should be the equilibrium of the game?
a) Firm 1 chooses a high price, Firm 2 chooses a high price.
b) Firm 1 chooses a high price, Firm 2 chooses a low price.
c) Firm 1 chooses a low price, Firm 2 chooses a high price.
d) Firm 1 chooses a low price, Firm 2 chooses a low price.