Question 5- Suppose two shoe stores operate near campus, Greyhound Shoes and ENMU Shoe World. Each o

Question 5- Suppose two shoe stores operate near campus, Greyhound Shoes and ENMU Shoe World. Each of these stores has two options for pricing strategies: a high markup and a low markup. Use the following, normal-form game to carefully discuss your answers to questions a through d.Greyhound ShoesENMU Shoe WorldHIGHLOWHIGH$8,000$8,000$12,000$2,000LOW$2,000$7,000$6,000$3,000a. Carefully describe the dominant strategy for each store.b. What is the Nash equilibrium for a one-shot game?d. Suppose management at ENMU Shoe World approaches their counterpart at Greyhound Shoes with a suggestion to collude. How much would ENMU Shoe World be willing to pay Greyhound Shoes to change their strategy?