Arrange the following steps in the process of determining a Nash Equilibrium in a competitive bidding scenario: A) Identify the strategies available to each player, B) Analyze the payoffs for each strategy combination, C) Determine if any player can improve their payoff by changing their strategy while others remain constant, D) Conclude if a Nash Equilibrium exists based on the analysis.

To determine a Nash Equilibrium in a competitive bidding scenario, you start by identifying the strategies available to each player, which is step A. Next, you analyze the payoffs for each combination of strategies, which is step B. After that, you check if any player can improve their payoff by changing their strategy while the others keep theirs the same, which corresponds to step C. Finally, based on this analysis, you conclude if a Nash Equilibrium exists, which is step D. For example, if two bidders have set bids that neither can improve upon without losing, then they have reached a Nash Equilibrium.