4) The payoffs that accrue to the buyer and seller from an encounter are shown below. Table 2: Seller Sell High Quality Product Sell LowQuality Product Buyer Purchase 510, S12 -58, S24 Do Not Purchase $0, -$8 $0, '52 Payoffs: buyer, seller Suppose both firms make their decisions at the same time. A) Explain whether the buyer has a dominant strategy. Do the same for the seller. B) Is there a Nash Equilibrium(s)? Explain. C) Use iterative dominance to solve for an equilibrium outcome. Explain your steps. Lgl D) Can the seller be made better off by issuing a warranty that pays the seller if he is unhappy with the product (because its low quality)? Explain. Give an example of a specific payment that would work. Explain your example