Please help me with these questions in regards to payoff matrix. I really don't know how any of this works. Thank you so much in advance. (:

FedEx Set High Price Set Low Price $5 bn $2 bn UPS Set High Price $4 bn $5 bn $7 bn $4 bn Set Low Price $2 bn $3 bn 1. Does FedEx have a dominant and dominated strategy? 2. Does UPS have a dominant and dominated strategy? 3. What is the Nash equilibrium? 4. Is this a prisoners' dilemma game? 5. Are the firms likely to be satisfied with the Nash equilibrium? Why or why not