A case study in the chapter describes a phone conversation between the presidents of American Airlines and Braniff Airways. Analyze the game between the two companies. Suppose that each company can charge either a high price for tickets or a low price. If one company charges $300, it earns low profits if the other company also charges $300, and high profits if the other company charges $600. On the other hand, if the company charges $600, it earns very low profits if the other company charges $300 and medium profits if the other company also charges $600. Complete the following decision box for this game. American's profits are on the left in each situation, Braniff's on the right. True or False: Both airlines would be better off than in the Nash equilibrium if both set a high price. O True O False