Use the following payoff table for Hardaway Corporation and Paxton Industries. These two firms must make simultaneous pricing decisions. They can choose low, medium, or high prices. The payoffs given are in thousands of dollars of profit per month.

a. Does Hardaway have a dominant strategy? If so, what is it?
b. Does Hardaway have a dominated strategy? If so, what is it?
c. Does Paxton have a dominant strategy? If so, what is it?
d. Does Paxton have a dominated strategy? If so, what is it?
e. Does the game have a Nash Equilibrium? If so, what is it?

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Paxton Industries Low Medlum High Hardaway Corp. Low $30, S30 $45, $20 $32, $20 Medlum $20, S45 $40, $40 $45, $35 High $15, S48 $38, S52 $50, S50 Payoffs in thousands of dollars of monthly profits