PART 3 -STRATEGIC GAME Two parks: Park ABC and Park BCD, are considering promotional advertising. If both parks advertise, then both will experience a $120 thousand increase in profits. If Park ABC advertises and Park BCD does not, then Park ABC will experience a $100 thousand dollar increase in profits and Park B will experience a $15 thousand increase in profits. If Park BCD advertises and Park ABC does not, then Park ABC will experience a $130 thousand increase in profits and Park BCD will experience a $100 thousand increase in profits. If neither park advertises, then profits will remain constant. Required: 1. Use this information to construct a payoff matrix 2. Is this a prisoners' dilemma? 3. Does either park have a dominant strategy? 4. Is there a Nash equilibrium and, if there is, what is it? 5. How is the concept of credible threat relevant to this game? Explain