3. Look at the advertising game shown below. Firms X and Y each produce televisions. Firm Y M C Firm X M 2, 1 2. 2 C 1. 1 3, 2 (a) Does Firm X have a dominant strategy here? Explain. (3 points) (b) Does Firm Y have a dominant strategy here? Explain. (3 points) (c) Does the above game have a solution/an equilibrium? Provide and explain your answer. (4 points) 4. (a) What is meant by market signaling? (1 point) (b) Explain/describe in words any two concrete examples of market signaling being carried out in practice in two different markets/situations. (Simply writing the name of the market or the activity is not sufficient here). (4 points)