ECO550 Sequential Move Game Strategy Sequential Move Game Strategy In the text, we consider a sequential-move game in which an entrant was considering ente

ECO550 Sequential Move Game Strategy Sequential Move Game Strategy In the text, we consider a sequential-move game in which an
entrant was considering entering an industry in competition with an incumbent
firm (See Figure 15-1). Consider now that the entrant, if fought, has the
possibility of withdrawing from the industry (at a loss of 1 for the entrant
and a gain of 8 for the incumbent), or staying at a loss of 5 for each player).
What is the equilibrium of this game? Discuss if the entrant is better off with
or without the ability to withdraw.I have added a diagram of the game to help you see the
options.Be sure to cite any source used.PLEASE DO NOT USE WIKIPEDIA, OR INVESTOPEDIA.