Poland Spring and Badger Clear are two producers that supply water in the Madison market. The profit of each producer of water depend on the price the other producer decides to charge; each firm can either charge a high price or a low price. The following payoff matrix describes the two producers. The payoffs represent each firm's profit. Badger Clear High Price Low Price High Price $10,000; $10,000 -$1,000; $25,000 Poland Spring Low Price $25,000; -$1,000 $5,000; $5,000 a. Given the strategies and payoffs for each firm, the Nash equilibrium is reached when Poland Spring charges [ Select ] price and Badger Clear charges [ Select ] price. b. Each firm has two strategies available, what is the dominant strategy for Badger Clear? Answer v [ Select ] Charge a high price Charge a low price unknow, as it depends on what Poland Spring will charge exit the industry