swer choice for Question 1 above. 6 pts. Scenario Global Kosher and Nutricia are the only two baby-formula producers serving the United Kingdom. Each producer can choose to set a low price or a high price for baby formula. Study the pay-off matrix below which displays the monthly profits given the combination of prices each producer can set. Nutricia Higher Price Lower Price Global Kosher Higher Price $ 5 M, $10 M $ 4 M, $13 M Lower Price $12 M, $9 M $ 8 M, $ 7 M 3. Identify if Global Kosher or Nutricia have a dominant strategy with a higher price, a dominant strategy with a lower price, or is there no dominant strategy for either producer. Write out each of the following points and add your answer/s-if the answer is none, add 'none'--after the colon: 6 pts. a. Dominant strategy with higher price: b. Dominant strategy with lower price: c. No dominant strategy: 4. Is there a Nash equilibrium? 4 pts. Tell me how you do or do not know. 6 pts. 5. If the two shops do not cooperate, what will be the profit for each? 21 pts