### Decscribe is the outcome a nash equilibrium

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Two firms, Rattler and Sidewinder, produce and sell snakeskin cowboy boots. The following payoff table represents profits in millions of dollars for a simultaneous pricing decision between the two firms. Each firm can choose to charge a Low, Medium, or High price per pair of boots:

Sidewinder's Price
Low Medium High
Low A: \$5000, \$4400 B: \$4000, \$4200 C: \$4200, \$4500
Rattler's Medium D: \$6000, \$4600 E: \$4400, \$4400 F: \$5000, \$4800
Price High G: \$3800, \$4800 H: \$4500, \$3200 I: \$4800, \$3600

a. What is the likely outcome of this decision?

b. Is this outcome a Nash Equilibrium? Why or why not?

c. Is this game a prisoners' dilemma? Why or why not?

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