Consider the following pricing problem for two fast food restaurants, McDonalds and Burger King, which are considering offering a new burger meal deal. Identify and explain any dominated strategy for both these restaurants. Explain the Nash Equilibrium if both restaurant chains make their choice simultaneously. What happens when the game is played sequentially and Burger King makes the rst move? McDonalds High Medium Low Burger King (800,800) (750,1000) (600,1400) Medium (900,500) (700,700) (500,600) Low (1000,200) (600,400) (450,450)