The NFL does not require revenue-sharing for local radio broadcast contracts. The Oakland Raiders will be relocating to Las Vegas next season. The Raiders are considering establishing a radio contract in Reno. The 49ers believe they can establish fan loyalty by establishing a radio contract in Reno. If the Raiders enter the Reno market alone, they believe they can obtain a $5 million broadcast agreement. If the 49ers also enter the Reno market, the Raiders expect to obtain a $4 million contract. If the 49ers enter the Reno market alone, they believe they can obtain a $3.8 million broadcast agreement. If the Raiders also enter the market, they believe they can secure a contract for $3.2 million. Do the Raiders have a dominant strategy? Explain. Do the 49ers have a dominant strategy? Explain. Does a Nash equilibrium exist? If so, what is it? How much revenue do you expect each franchise to generate?