The profits of major television networks depend significantly on the ratings achieved by their programs. The rating of a program is directly associated with the number of viewers. The higher the number of viewers, the higher the ratings, the higher the price the network can charge for advertising, and the greater the number of advertising spots it can sell. Currently, both the Stephen Colbert and Jimmy Fallon shows are scheduled at the same time, 11:30 pm. Suppose the New York Times has reported that CBS will move the Late Night Show with Stephen Colbert from its 11:30 pm to a 10:30 pm time slot beginning in August. According to a survey conducted by the Nielsen research group, the payoff table in millions of viewers is presented below. CBS Late Night Show Late Night Show with Stephen with Stephen Colbert Colbert 10:30 pm 11:30 pm The Tonight Show Jimmy (46, 43) (38, 45) NBC Fallon - 10:30 pm The Tonight Show Jimmy (36, 34) (50, 38) Fallon - 11:30 pm a. Given the oligopolistic structure of the market, do you expect the New York Times report to be true? Why or why not? b. If the New Your Time report is correct and CBS will give Stephen Colbert its 10:30 pm, at what time slot would you expect NBC to schedule the Tonight Show with Jimmy Fallon? Why? c. Is there a Nash Equilibrium associated with this problem? Explain how the Nash Equilibrium concept can be useful to predict the outcome of this specific game