The following is a payoff matrix showing profit in millions of dollars when two companies simultaneously decide on various advertising budgets ($1…

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The following is a payoff matrix showing profit in millions of dollars when two companies simultaneously decide on various advertising budgets ($1 million, $2 million, or $3 million):

a.  In the first round of strategy elimination, which ad budget would the companies exclude?

b.  After the first round of elimination, would either company make a second-round elimination?

c.  What would be the likely outcome of this simultaneous advertising decision (i.e. what ad budget would each company end up choosing)?

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