Suppose that Wal-World and Tarbo are independently deciding whether to implement a new bar code technology. It is less costly for their suppliers to use one system and the following payoff matrix shows the profits per year for each company resulting from the interaction of their strategies.
a. Briefly explain whether Wal-World has a dominant strategy.
b. Briefly explain whether Tarbo has a dominant strategy.
c. Briefly explain whether there is a Nash equilibrium in this game.