(i)Merebut and Ichiban provide private-hire services. The strategic choices and payoffs for Merebut and Ichiban are as follows: Payoffs: Merebut, Ichiban Ichiban’s Strategy Merebut’s Strategy Cut Prices Don’t Cut Prices Cut Prices -$200, -$200 $400, $500 Don’t Cut Prices $300, $650 $500, $600 If Merebut and Ichiban choose simultaneously and with full knowledge of the payoff structure, what is the Nash Equilibrium/Equilibria, if any? Explain your answer.