Consider the following game depicting the process of standard setting in high-definition television (HDTV). The US and Canada must simultaneously decide whether to invest a high or low value into HDTV research. Each country's payoffs are summarized in Table 1. Table 1: HDTV R&D Game Canada Low High U.S. Low 52, 43 36, 55 High 48, 39 17, 11 (a) Are there any dominant strategies in the game? Explain. (b) What is the Nash Equilibrium of the game? (c) Suppose the U.S. can publicly announce their strategy before Canada announces their strategy (i.e. how would the U.S behave if they act like they have a first mover advantage). What is the new Nash Equilibrium of the game?