Question 6 Suppose Disney considers entering the TV streaming service market. Before Disney joins, Netflix is the monopoly in this market. The following table shows profits of two companies depending on Netflix and Disney's strategy. The profits in the table are shown as (Payoff to Disney, Payoff to Netflix) Netflix High Price Low Price Enter Disney ($600,000, $300,000) ($400,000, $500,000) Do not enter (SO, $600,000) ($0, $200,000) Table 3. Payoff Matrix (a) Analyze each strategy combination by Netflix and Disney and explain whether each combination is a Nash equilibrium or not. [4 marks] (b) Does each company have a dominant strategy? Explain. [4 marks]