A small regional airline is considering offering service to the Big City market. A large carrier already provides service to Big City. The small carrier's two strategies are: Enter Market or Do Not Enter. The large carrier's strategies are: Price Dump or Maximize Profits in the Short Run. By price dumping in the Big City market, the large carrier can force the small carrier out of business and make monopoly profits in the long-run. The long-run pay-offs are presented in the pay-off matrix below. 
Does either player have a dominant strategy? Does the game have any Nash equilibria? What is the maximin strategy of each player in the game?
Definitions:
Purely Competitive
A market structure characterized by many buyers and sellers, freely entering and exiting the market, with all firms selling identical or nearly identical products.
Unit Price
The cost per unit of a product or service, making it easier to compare the value of similar items.
Market Price
The current market price for buying or selling an asset or service in an open exchange.
Purely Competitive
A market structure characterized by many buyers and sellers, homogeneous products, and free entry and exit of firms.
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