In Downtown Tampa, FL, there is an area attached to Hillsborough Bay that is very attractive to travelers, visitors, tourists, etc. As you can see in the following picture, this place is close to downtown, Hillsborough Bay, McKay Bay, Tampa Convention Center, Amalie Arena, and many historical attractions and shopping centers. Picture Sou rce' http'mhegalle rystudios.comfreaIestate-photogra phyir There are onlyr two major hotels ("Embassyr Suites\" and "Marriot") in this small area serving travelers, tourists, conference attendees, etc. Assuming thatthis area is somewhat isolated from other areas in Tampa, and that these two hotels service their own costumers (ie. they service people who are interested in staying only in this area), and that their services are almost identical, these two major hotels are competing in an imperfect-competition form, and as such, their competition can be modeled as a duopoly. The two hotels face a choice as to whether to post high prices for their rooms or low prices. As they encounter a downwardsloping demand curve for their rooms, if they both post low prices, the profit of each hotel will become 12 million dollars a year. If only one posts low prices, it will make 20 million dollars a year (through attracting more costumers and obtaining a higher occupancy rate), whereas the prots of the other hotel will become 10 million dollars a year. If both hotels post high prices, the prot of each will become 16 million dollars a year. Consider the situation described above and complete the following payoff matn'x accordingly, so you can proceed and answer the questions below. Ei-I-ilznass'iI Suites Marriot Question 21: Which of the following choices reports the Nash Equilibrium cf the above game? (Note that the payoffs are prots.) 0 {High Prices, Low Prices} 0 {Low Prices, High Prices} 0 {Low Prices, Low Prices} 8. {High Prices, High Prices} 0 {High Prices, Low Prices} 8. {Low Prices, High Prices} 0 {Low Prices, Low Prices} 0 {High Prices, High Prices} Question 22: Is there any Dominant Strategy for the two players (i.e., the owner of Marriot and the owner of Embassy Suites) in this game? If so, which of the following choices shows the dominant strategy for each player? O Question 22: Is there any Dominant Strategy for the two players (i.e., the owner of Marriot and the owner of Embassy Suites) in this game? If so, which of the following choices shows the dominant strategy for each player? O Yes, there is a dominant strategy for the owner of Marriot, and it is "Low Prices", and there are no dominant strategies for the owner of Embassy Suites. Yes, there is. For the owner of Marriot, it is "High Prices", and for the owner of Embassy Suites, it is "High Prices". O Yes, there is. For the owner of Marriot, it is "High Prices", and for the owner of Embassy Suites, it is "Low Prices". Yes, there is. For the owner of Marriot, it is "Low Prices", and for the owner of Embassy Suites, it is "Low Prices". O No, there is not any dominant strategies for anyone