The Payoff Table Shows the Competition Between a New Entrant

Essay

The payoff table shows the competition between a new entrant (Firm 1) and an incumbent firm (Firm 2). Determine each firm's equilibrium strategy.
$\begin{array}{l}\quad\quad\quad\quad\quad\quad\quad\quad\quad\text { Firm } 2\\\begin{array} { | c | c | c | } \hline \text { Firm 1 } & \text { Fight } & \text { High price } \\\hline \text { Enter } & - 10,15 & 10,10 \\\hline \text { Not enter } & 0,20 & 0,20 \\\hline\end{array}\end{array}$