The figure shows the payoff matrix for Walmart and Target from every combination of pricing strategies for the popular PlayStation 4. At the start of the game each rm charges a low price and each earns a prot of $7,000. Is the current strategy in which each rm charges the low price and earns a profit of $7,000 a Nash equilibrium? If not, why and what is the Nash equilibrium? {:3- A. No, the current situation is not a Nash equilibrium. The Nash equilibrium for each firm is to have the other charge a high price and for the rm in question charge a low price. {-22- B. No, it is not a Nash equilibrium because each firm can do better by charging the high price. The Nash equilibrium occurs when each firm charges the high price and earns a prot of $10,000. {:22- C. Yes, the current situation is a Nash equilibrium. {:3- D. No, the current situation is not a Nash equilibrium; it is a dominant strategy equilibrium. There is no Nash equilibrium in this game. Target (\"T\") High price Low price Walmart (\"W\") High price \"W" earns $10,000 \"1\" earns $10,000 \"W' earns $5.000 \"T\" earns $14,000 Low price \"W" earns $14.000 \"'T' earns $5.000 "W" earns $7.000 \"1' earns $7.000