Arrange the following steps in the process of reaching a Nash Equilibrium in a competitive market: 1) Identify the strategies available to each player, 2) Determine the best response of each player to the strategies chosen by others, 3) Analyze the outcomes based on the chosen strategies, 4) Conclude if any player has an incentive to change their strategy.

To reach a Nash Equilibrium in a competitive market, you first need to identify the strategies available to each player involved in the game. Once you know these strategies, the next step is to determine the best response for each player based on the strategies chosen by others. After analyzing the outcomes from these chosen strategies, you can then conclude if any player has an incentive to change their strategy. If no player has an incentive to change, you have found the Nash Equilibrium, where each player's strategy is optimal given the strategies of others. For example, in a simple game where two companies set prices, if both companies choose a price that maximizes their profit given the other's price, they reach a Nash Equilibrium.