The smartphone producer controls the privacy settings on the smartphone. The smartphone producer chooses between lax and strict privacy settings. Consumers would prefer strict settings. So, if the smartphone producer chooses strict settings, it can raise prices, leading to an increase of profits of $28. The social media firm chooses whether to produce an app that runs on the smartphone's operating system. The social media firm's profits stem primarily from the sale of advertising. The app increases the social media firm's profits by $43 if the privacy settings are lax, but by $13 if the privacy settings are strict. The app is highly valued by users, and so affects what consumers are willing to pay for the smartphone, in turn affecting the smartphone producer's profits. Specifically: If the social media firm produces the app, it increases the smartphone producer's profits by $13 if the smartphone has strict privacy settings, and by $0.53 if the smartphone has lax privacy settings. If the smartphone producer chooses lax privacy settings, and the social media firm doesn't produce an app, then the profits of the two entities are $23 and 533 respectively. Part (a! Treating the setting as a simultaneousmove game, draw the game in matrix form. Part (bl Based on your answer to part (a), what outcome to you predict occurs? That is: (i) What privacy setting does the smartphone producer implement? {ii} Does the social media firm produce the app? Show your work. Part (cl Is the smartphone producer and social media firm merged to form a single firm. would this change the outcome you predicted in part (b)? If so, how? If not, why not