From the following payoff matrix, where the payoffs are the prof ts or losses of the two firms, determine (a) whether firm A has a dominant strategy, (b) whether f rm B has a dominant strategy, (c) the optimal strategy for each firm, and (d) the Nash equilibrium, if there is one.
Firm B
Low Price High Price
Low Price (1, 1) (3, 21)
Firm A
High Price (21, 3) (4,2)
Yes, there is a Nash equilibrium, please state the strategy for firm A and firm B at Nash equilibrium.